Change of ownership at Veerangana Steels under scanner

The government’s high-level panel looking into the controversial coal block allocations for captive mining has decided against cancelling three blocks, given to Nagpur-based Shree Veerangana Steels. This is despite the company facing the government’s ire for having allegedly sold its blocks by selling ownership of the firm, in violation of the norms. The inter-ministerial group (IMG) had in its review meeting on Wednesday recommended deducting the company’s bank guarantee but said the block should not be cancelled, due to the progress made by Veerangana in developing the reserves.

“A number of observations made in it are factually incorrect”

The Goa Mineral Ore Exporters’ Association on Saturday found fault with the report of the Justice M.B. Shah Commission of Inquiry on the illegal mining in the State. In a letter to the Secretary, Ministry of Mines, Government of India, the association’s executive secretary S. Sridhar said “a number of observations made in the report are factually incorrect.”

NEW DELHI, 14 SEPT: The alleged irregularities in coal block allocations came under judicial scrutiny today with the Supreme Court issuing notice to the government asking it to explain whether it h

Bhubaneswar: Targeted by the Centre on Coalgate issue, chief minister Naveen Patnaik today questioned allocation of coal blocks to certain companies which do not have any stake in the state.

PANJIM: Directorate of Mines and Geology on Friday issued show cause notices to 40 mining lease holders, whose delay in filing the ‘J Form’ was condoned by the former Congress government.

Interestingly, the directorate has asked lease holders to explain why action should not be initiated against them for unlawful condonation of delay, when the condonation was actually done by the government. Director of Mines and Geology Prasanna Acharya told Herald that the show cause notices were issued to owners of mining leases, who will have to reply to the notices by October 10.

PANJIM: After taking to the road in last year’s protest, mining truck owners have now given a green signal to Manohar Parrikar-led government over closure of the mining industry with a rider -- the All Goa Truck Owners Association (AGTOA) has asked that state government to work out a rehabilitation plan to secure their future, before closing the industry.

Prior to the Friday evening meeting with Parrikar, AGTOA President Nilkhant Gawas told Herald that they have no issue if the government wants to impose a ban on the mining industry, but the decision should not be sudden.

Move On with Some Real Work: The government has to scrap some licences, clear up policy issues and cap merchant power rates to clean up the coal sector

15 teams search homes and offices of several exporters, no arrests made so far

A week after the Supreme Court ordered for an inquiry by Central Bureau of Investigation (CBI) into the alleged illegal export of 5 million metric tonnes of iron ore from Belekeri port in Karnataka, the CBI officials began search operations on several iron ore exporters and mining firms at various places in Bangalore, Karwar, Hospet and Goa, early this morning.

The first tunnel close-pit mining in Rajasthan started here in Kayar area to produce zinc and allied minerals, including silver and lead, will bring pump in Rs 1 crore every month initially as royalty to government's coffers.

The first production of mineral from the Kayar mine was sent to a refinery in Rampura Agucha of Bhilwara district. Kayar has the third largest zinc deposit in Asia with an expected 35,000 metric tonnes of the mineral.

PANJIM: Though State Government had initiated a few steps, following disclosure of the magnitude of illegalities in mining by Shah Commission report last week, activists, however, do not seem to be satisfied.

Now that illegalities of mining companies have come in full public view, they expect that mining companies should be compelled to pay back illegal profits cornered by them during last few years.