PANJIM: State government’s reluctance to act on Supreme Court-appointed Central Empowered Committee (CEC) directions to keep in abeyance all NOCs granted for export of Maharashtra origin iron ore, has proved fruitful to the trading company ~ Prime Minerals ~ which so far has exported 60,000 metric tonnes of ore from Goa.

Prime Minerals, earlier this month, was granted NOC by the Directorate of Mines and Geology for export of 72,000 metric tones of ore, it claimed had been brought to Goa from Maharashtra. The export of the same had begun from Panjim port, a couple of days back.

The state government's plan to allow export of iron ore extracted in neighbouring states suffered a set back as the Supreme Court's central empowered committee (CEC) on Thursday directed the state

GPCC president wants state govt to represent the case in SC properly

Goa Congress today alleged that the Parrikar government was handling the issue of mining ban in the Supreme Court (SC) casually, which can lead to serious problems in the state. "Goa government should appoint a good counsel to represent state in the SC on the mining issue," Goa Pradesh Congress Committee (GPCC) working president Fransisco Sardinha told reporters here today.

Cabinet may clear proposal today to boost agri exports

In a major fillip to India’s processed food exports, the Cabinet is set to clear a policy under which processed foods from agricultural commodities such as wheat, rice, onion and milk would not be subject to any export ban or restrictions. The Cabinet Committee on Economic Affairs (CCEA) is set to clear the proposal on Thursday to exempt 14 types of processed food from the purview of export restrictions including oats, milk products, dehydrated onions, wheat and rice products.

Supply drought from India is one important reason why spot ore prices climbed so strongly in December after sinking to a 3-year low in September

In an otherwise instructive guidance for all steel stakeholders, global rating agency Fitch Ratings in its ‘2013 outlook steel raw materials producers’ report says India stands the risks becoming a net importer of iron ore in 2013-14. This, by any yardstick, is a far-fetched observation. Federation of Indian Mineral Industries president H C Daga, a no-taker of a possibility of this kind, says, “The ore supply situation has become tight in the wake of a ban on mining in Karnataka and Goa.

Loss due to non-revision of domestic prices by the company in line with movement of market price

Iron ore miner NMDC has suffered Rs 745.94 crore revenue loss during 2007-10 for not revising the domestic prices of the steel-making raw material in line with prevailing market rates, government auditor CAG said. "...Due to non-revision of domestic prices by the company (NMDC) in line with movement of market price, the company has suffered a revenue loss of Rs 754.94 crore during 2007-10," CAG said in a report, tabled in Rajya Sabha, today.