The Union coal ministry today issued a draft of the guidelines being framed for putting in place a competitive bidding regime for allocating coal blocks in the country.
Competitive bidding will replace the current practice of allocating blocks to the private sector for notified captive use based on recommendations of an inter-ministerial committee.
The mines ministry is understood to have approached the law ministry to ascertain whether the proposed National Mineral Regulatory Authority (NMRA) could be empowered to review the envisaged profit-sharing formula.
According to the proposed formula, which the mines ministry had inserted in the initial Draft Mines and Minerals (Development & Regulation) Bill, 2010, miners will be mandated to sha
AKSHAYA KUMAR SAHOO
BHUBANESWAR
The Orissa govern ment has put forth proposal before the Centre for introducing value addition system in the Mines and Minerals Development and Regulation (MMDR) Act.
The group of ministers (GoM) on mines and minerals (development & regulation) Bill has proposed that corporate groups spread over different sectors should have separate accounts for mining-related activities in order to facilitate sharing of their mining profits with the locals.
After an intense battle of nerves spanning for months, the legislation to streamline and regulate growth of mining sector is all set to see the light of the day.
A Group of Ministers (GoM) set up to vet the Mines and Minerals (Development & Regulation) Bill 2010 has accorded its stamp of approval to it, albeit after a delicate balancing act to meet the aspirations of the central and state governm
Raipur: The case of Pushp Steel and Mines reverberated in Chhattisgarh assembly, as the Congress party attacked Chief Minister Raman Singh, asking him to divulge the name of the owner of the dubious firm that was granted mining rights in the state in violation of rules.
The moratorium on the further mining leases and renewals is expected to continue for a longer time as the state government is till waiting for redrafting of Mines and Minerals Development and Regulation Act (India) (MMRD) by centre.
Goa Environment Protection Council, which met at Raj Bhavan today, was told by the State government that the mining policy could be finalised only after centre redraf
Although mines minister BK Handique announced after Friday's group of ministers' (GoM) meeting that the contentious proposal for mining companies to share 26% of their annual net profit with the displaced locals was cleared, tribal affairs minister Kantilal Bhuria had in fact surprised others in the GoM by suggesting that the compensation for the displaced be raised to 30%
Coal mineThe decision of the Group of Ministers (GoM) to force mining companies to share 26 per cent of their profits with local and project affected people hasn
