On the day when Central Bureau of Investigation (CBI) registered two new FIRs in the Coalgate scam, the Coal Ministry on Tuesday slapped show cause notices on 12 firms including state-owned NTPC, S

If the M B Shah Commission's proposal for a complete ban on iron ore mining in Odisha is implemented, it may result in a fall of 11 million tonnes (mt) in the combined captive iron ore output of Steel Authority of India Limited (SAIL) and Tata Steel.

Earlier, iron ore mining was banned in Goa, after it was found norms related to the environment had been violated. The commission is finalising its recommendations on irregularities in iron ore mining in Odisha. If the commission suggests a blanket ban on mining, SAIL would lose four mt of captive iron ore output, while Tata Steel would lose seven mt of iron ore a year.

Trouble for big fish Jindal Steel, NTPC, Tata Steel, SAIL

The Government is likely to issue show-cause notices to allocatees of 32 captive coal blocks, including Jindal Steel and Power, NTPC, Tata Steel and SAIL, for failing to develop the blocks on time.

State says IBM report on 'mineral development' not binging

The Indian Bureau of Mines (IBM) has sought from the Odisha government the details of 24 mining leases, which are awaiting extension of the validity period of the leases, before giving its recommendation whether the leases should be renewed in the interest of 'mineral development'. The communication from IBM is in contrast with October 2012 executive order of the state government, which asserted that the state is empowered to take a decision about 'mineral development' while processing renewal application.

Steel Authority of India Limited (SAIL) has lined up an investment of . 10,284 crore to double capacity of its captive iron ore mines to 45 million tonne.

The steel ministry has called for the auctioning of all unused coking coal mines in the country to steel makers in view of the paucity of the fuel, triggering sharp reactions from Coal India Ltd.

In its revised draft National Steel Policy 2012, the steel ministry has proposed that Bharat Coking Coal Ltd, which is the custodian and operator of coking coal mines, should be de-merged from parent firm CIL and its idle mines should be offered to home-grown integrated steel plants for commercial exploitation, with suitable terms and conditions.

With the availability of bauxite out of sight, even two months after it shut down its Lanjigarh alumina refinery, Vedanta Aluminium Ltd (VAL) has urged the Odisha government to expedite processing of the applications of state-controlled Odisha Mining Corporation (OMC) for bauxite mining leases.

“We have requested the state government to expedite processing of OMC’s pending applications, especially for those bauxite leases that fall in non-forest areas. These applications are either at the PL (prospecting licence) or ML (mining lease) stage.

Kolkata/Ranchi: Coal India (CIL) is foraying into the solar power sector with a view to make use of its whopping cash reserve of above R60,000 crore in a meaningful way.

CIL chairman and managing director S Narsing Rao told FE there are business opportunities in the solar power sector and a scope to take some climate mitigation initiatives as well. “Foraying into solar power is expected to give us returns higher than the interest we are earning. It would also be a carbon mitigating project,” Rao said.

In the absence of transport network and faster envt clearances, benefits will be limited

After nearly 40 years of state ownership, the chorus of support for privatisation of coal mines is growing louder. With the economy ravenously short of coal to fire its power plants, and the state-owned Coal India Limited (CIL), which has a near monopoly in the sector, failing to meet the ever increasing demand from industry, the cause of privatisation is gathering strength.

The Centre today asked the Odisha government to sort out the forest diversion issues expeditiously in the mining areas.