While the CAG is right about resource allocation through competitive bidding, mineral resources are universally let out on annual lease and not auctioned off for a lump sum.

When the country’s attention has got focused on the issue of coal block allocation, those closely associated with the coal mining sector here are especially pointing to the amendment in the Coal Mines (nationalisation) Act, 1973, which allowed private sector participation in captive coal mining for power generation and a 2011 review of the coal mining policy that permitted the state government companies or undertakings to do mining of both cooking and non-cooking coal reserves.

The report of the Comptroller & Auditor General of India naming top business houses such as the Tatas, the Jindals and the Anil Ambani Group among alleged recipients of state generosity, includ

New Delhi: It’s official now.

The Supreme Court on Friday took a tough stand over the resumption of mining in Karnataka and asserted that unless it was sure that the reclamation and rehabilitation (R & R) steps are “hundred per cent” complied with, operations cannot be allowed.

“There is an assumption that operations can start and R& R will follow,” the Bench headed by Justice Aftab Alam observed. But it is a wrong assumption, the three-judge Bench clarified.

Over a third of operating mines in Goa are set to be closed due to a recent decision by the state government to levy a 15 per cent upfront stamp duty on the royalty paid by them.

There are only 97 mines currently in operation out of 337 registered with the state government. Hence, around 70 per cent of registered mines are closed due to restrictions imposed by the state government following investigations by the M B Shah Commission inquiring into the legality of mines with required necessary permissions.

Police confirm 30 dead in action against striking workers images of firing rekindle memories of apartheid past

The killing by police of more than 30 striking platinum miners in the bloodiest security operation since the end of white rule cut to the quick of South Africa’s psyche on Friday, with people and the media questioning its post-apartheid soul. Newspaper headlines screamed “Bloodbath”, “Killing Field” and “Mine Slaughter”, with graphic photographs of heavily armed white and black police officers walking casually past the bloodied corpses of black men lying crumpled in the dust.

Delay in introducing competitive bidding had rendered the sale process between 2004 and 2009

The Comptroller and Auditor General (CAG) on Friday accused the government of allocating dozens of coal blocks at a fraction of their market price, costing the exchequer potential revenues of around $33.3 billion. The Bharatiya Janata Party leapt on the CAG report to put fresh pressure on the beleaguered government of Prime Minister Manmohan Singh, demanding an immediate explanation.

PANJIM: The Directorate of Mines and Geology will begin issuing notices, from next week, to all the 40 mining leases, whose delay in converting from concessions to leases was condoned by former Congress-led government.

Chief Minister Manohar Parrikar has already announced cancellation of all these 40 mining leases, granted illegally by the previous government. Director of Mines Prasanna Acharya said that the notices would be issued on case-to-case basis to all the 40 mines. “They will be issued by next week,” he said.

New Delhi Adani refused power supply to GUVNL due to rising coal prices

The Supreme Court on Monday admitted Adani Power’s appeal against the Appellate Tribunal for Electricity’s order asking it to supply power to state utility Gujarat Urja Vikas Nigam Ltd (GUVNL) at an agreed price of R2.35 per unit for 25 years. Adani Power had, in December 2009, terminated its 2007 power purchase agreement (PPA) with the state utility for supply of 1,000 mw power on the grounds that it would not be possible to supply electricity at the earlier agreed tariff of R2.35 per unit due to high coal prices.