Bowing to intense pressure from the Centre, the Karnataka government seems to have finally woken up to the menace of illegal mining as its officials recently raided and seized huge amounts of unaccounted iron ore from the Bellikere and Karwar ports.

In a move aimed at curbing illegal mining

Taking note of illegally mined iron ore being shipped by the miners to the lucrative international markets by evading the regulatory system, the mines ministry has asked the shipping ministry to set up a mechanism to check if the royalty has been paid and the mines from which the mineral has been extracted are legal.

The mines ministry, in a unique move, has proposed that companies that receive a mining lease will from now have to mandatorily make people residing in the project area stakeholders. Companies will need to offering at least 26 per cent shares through the promoter

Ranchi, April 5: ArcelorMittal has been granted another iron ore mining lease in Jharkhand where the company has proposed to invest over Rs 40,000 crore for setting up a Greenfield steel project.

The central government today said it had granted a licence to ArcelorMittal for prospecting iron ore in the Karampada region of Jharkhand, a move that would boost the steel giant

Angered by illegally mined iron ore finding its way out of Orissa through the railways, the Mines Ministry today demanded that the transport monolith must evolve an effective mechanism to check illegal movement of the mineral through its network.

An Act to provide for the scientific development of mines and minerals under the control of the Union and the regulation of activities connected therewith. This Act may be called the Mines and Minerals (Development and Regulation) Act, 2010. It extends to the whole of India.

B K Rout / Angul March 22, 2010, 1:03 IST

Union Minister for Mines B K Handique has ruled out any possibility of disinvestment in National Aluminum Company (Nalco), putting to rest all speculation on the possibility of a sale in government stake of up to 10 per cent in the navratna company.

Like the Telecom Ministry, the Ministry of Mines plans to hand out licences for minerals other than coal to those