Troubles could soon ignite for state-run behemoths having Vedanta-style joint ventures with private mining companies as the union mines ministry has decided to subject such JVs to intense scrutiny.
Unfazed by opposition from the mining community, mines minister B K Handique today said the recommendation mandating them to share 26 per cent of their profits was irrevocable, saying the government was committed to ensuring inclusiveness of the people in the mining areas.
NEW DELHI: Seeking to adopt a holistic approach to the issue of mining and avoid a repeat of the Niyamgiri incident, the Mines Ministry will soon draw up a new policy that would clearly earmark regions that would be out of bounds for mining and those areas where projects could be taken up.
Official sources said the Ministry has prepared a draft policy and will seek the approva
The Mines and Minerals (Development and Regulation) Bill of 2010 stipulates that companies share 26 per cent profits from mining with project affected people besides paying for community development as part of corporate social responsibility (CSR).
Rich Mining Areas To Protect Local Populace
Subhash Narayan NEW DELHI
THE government is planning to put in place a more transparent mining policy by designating parts of mineral-rich regions as out of bounds for industry because of environmental concerns, a move that can avoid episodes such as the recent ban on mining at Niyamgiri in Orissa but could hurt expansion plans of companies located
The Centre on Thursday rejected demand for ban on iron ore export, but promised that stringent steps will be initiated to curb illegal mining.
During the debate on illegal mining in the Rajya Sabha, the mining activities in Karnataka were brought to focus by several members, including TDP Rajya Sabha MP Mysura Reddy.
Mines minister B.K.
