Meet this week to discuss proposal to increase 2013-14 wheat MSP by Rs 100

Riding high on NMDC stake sale garnering Rs 6,000 crore, the Cabinet is expected to discuss on Saturday a proposal to sell 12.5 per cent of its 92.5-per cent stake in state-run Rashtriya Chemicals and Fertilizers Ltd (RCF). Officials said the Cabinet is also expected to discuss a proposal from the agriculture ministry to raise the minimum support price (MSP) of wheat for the 2013-14 crop marketing season, which starts from

State initiates process to lease out Pattangi mine to the company

National Aluminium Company (Nalco) has resumed bauxite excavation at its Panchpatmali (North-Central block) mines nearly a month after it shut down operation at the site following expiry of lease deed on November 16. The company has obtained a temporary working permit (TWP) to raise mineral for a year, pending renewal of its mining lease.

“We have started the mines operation today after receiving the TWP. We will complete all pending work within four months to put up our cases for lease renewal. We hope to get the lease renewal within a year,” said a senior official of Nalco.

Having received only limited success in their global quest for natural resources, public sector metal and mining companies might turn their focus now on just a handful of mineral-rich countries whe

New Delhi The inter-ministerial group (IMG) has recommended deallocation of three coal mines, and deduction and imposition of bank guarantee (BG) of PSU firms, including MMTC and Nalco.

The lease for its Panchpatmali bauxite mines having expired three days ago, the National Aluminium Company (Nalco) is pinning hopes on the November 26 Forest Advisory Committee (FAC) meeting to giv

Bhubaneswa rEven as the National Aluminium Company refinery is facing closure due to want of bauxite, the company chairman-cum-managing director, Ansuman Das, on Monday assured that there would be no problem in meeting the export commitments besides the demand of the smelter.

Stating that the company has commitments for dispatch of two more consignments off Vizag port this month, the CMD said that these two would be met with. According to him, the nominated vessels for the cargo has already started for Vizag port. “We would reschedule the date for other commitments after we come to know the status of the mines by this month end”. He also clarified that there is alumina stock to meet the demand of its smelter at Angul.

Even as National Aluminium Company (Nalco) awaits anxiously for the nod of the Forest Advisory Committee (FAC) of the Union Ministry of Environment and Forest (MoEF) for grant of temporary work permit (TWP) to reopen its lapsed bauxite mine, the non-inclusion of the matter in the agenda of the next meeting of FAC has emerged as a matter of concern.

Any delay in the FAC, which is crucial for grant of TWP, may jeopardise the future operation of the company’s 2.1 million tonne alumina refinery at Damanjodi, on the foot of Panchpatmali bauxite deposit in Koraput district.

Company hopes to get permit to re-operate mine by December

National Aluminium Company (Nalco) has stopped production at its Panchpatmali North-Central block bauxite mines after its lease deed for the area expired on Saturday. The company, which is awaiting renewal of the lease, said it is expecting a temporary working permit to operate the mine by December. “We have applied for a temporary working permit (TWP) for a period of one year. The status of the application will be clear by the end of this month,” said a senior official of Nalco.

Bhubaneswar In a major relief for the National Aluminium Company (Nalco), the Orissa government on Thursday assured the company that there would be no restriction on mining bauxite from the Panchapatmali mines in Koraput district.

As the lease tenure of the Nalco’s captive bauxite mines comes to an end on November 16, the firm was worried about sourcing raw material for its refinery at Damanjodi. There was apprehension that Nalco’s refinery and the smelter at Angul would be shut down for want of bauxite. In fact, the company is now left with only 10-15 days stock of bauxite.

New Delhi After recommending cancellations of coal block allocations made to private players, the inter-ministerial group (IMG) on Wednesday recommended action against erring PSUs.

The IMG on coal blocks recommended de-allocation of eight such blocks after scrutiny of 19 cases. According to sources, IMG has recommended de-allocation of eight mines, imposition of bank guarantee in six cases and deduction of bank guarantee in two cases.