Karnataka proposes to auction 15 of its Category-C mines to end-users

In what could be a first for the country’s iron ore sector, the Karnataka government is readying an action plan to auction iron ore mines to end-users. To begin with, it has proposed to put 15 of its 51 Category-C mines on the block and sought permission for this from the Supreme Court, which is to hear its appeal on Friday.

‘Step taken by the State is valid as a right of pre-emption’

Orissa High Court on Wednesday upheld the State government’s circular of December 2012 in which the government had asked the mine owners in the State to supply half of their mine lumps to local standalone units.

At a time when the country is facing several hindrances in mining activities, NMDC, the largest state-run iron ore miner, has recorded the highest level of production of 30.18 million tonne for FY1

The MMDR Bill had proposed sharing of miner's profits with the project-affected people amongst other things

The UPA's attempt to overhaul the law governing malpractice-ridden mining sector by replacing a 50-year-old legislation, has been wasted with the new mining bill lapsing. The Mines and Minerals Development and Regulation (MMDR) Bill had proposed sharing of miner's profits with the project-affected people amongst other things, but with the last Lok Sabha being dissolved for elections, the Bill has lapsed.

Investment of over Rs 35000 cr may be put on hold by industry

Finance minister P Chidambaram's move to retain 5 per cent duty on export of pellets has deeply disappointed the iron ore mining industry. The industry, which was expecting duty withdrawal in the interim budget 2014-15, said the industry might consider closing down existing units and put on hold investment to the tune of over Rs 35,000 crore.

The judges asked the counsel for the industries to work out the mining quota within themselves and the government within the ceiling

The iron and steel industry in Karnataka did not get the existing cap on mining output raised at Monday's hearing in the Supreme Court. The Bench, chaired by A K Patnaik, declined to change its earlier order of limiting the production to 30 million tonnes a year.

Mine & metal cos want reversal of order that asks miners with partial green nod to get fresh approval for entire area by Jan ’15

India’s top mining and metals players plan to approach the prime minister and the environment and forest minister to scrap, or at least modify, a directive issued last year, warning that the entire mining sector would grind to a halt otherwise.

In Nov 2013, SC allowed auction of 11.4 mn tonnes of iron ore lying idle at various mine heads and jetties

A Supreme Court-appointed committee has decided to put on auction about four million tonnes (mt) of iron ore stock at various mine heads in Goa. To begin, the ore lying at various jetties and Mormugao port will be auctioned some time in February, industry sources said.

Only 15 mines have resumed mining with a combined capacity of 5.72 million tonnes per annum

Even as the Supreme Court allowed the reopening of iron-ore mines in Karnataka seven months ago, most are still waiting for regulatory approvals to restart operations. Only 15 (12 from Category A and three from Category B) with a capacity of 5.7 million tonnes (mt) a year have restarted operations.

Don’t blame just the industry for the country’s mineral production falling 2.5% in April-September, dragging down the overall industrial output and GDP.