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Steel minister Beni Prasad Verma has cautioned environment minister Jayanthi Natarajan against delaying green clearances for SAIL’s iron ore mines in Orissa and Jharkhand. Delays have led to the discontinuation of mining in the predominantly tribal areas, said Verma, cautioning this could trigger law and order problems and stoke naxal activities in these areas.

Verma’s November 30 letter follows SAIL’s top brass cautioning that delays at two SAIL mines — Gua in Jharkhand and Bolani in Orissa — could trigger serious raw material scarcity at its Bokaro plant in Jharkhand and Integrated Steel Plant in West Bengal.

Steel minister Beni Prasad Verma has cautioned environment minister Jayanthi Natarajan against holding up clearances for SAIL’s iron ore mines in Orissa and Jharkhand, saying this would force the s

ANSWERED ON 06.12.2012
Fire accident at RINL

1506 DR. T.N. SEEMA

After a prolonged slide, the price of each well below a euro, a 95% fall in 4 years, with no relief in sight

With the price of carbon credits continuing to slide in the global markets and the first commitment period for the Clean Development Mechanism (CDM, under which carbon trading is permitted) coming to an end this year, companies and investors holding carbon credits are worried at the prospect for investments in this regard.

Union Steel Minister Beni Prasad Verma on Monday urged the Uttar Pradesh government to expedite the procedures for the lease of iron ore mines in Lalitpur district of Bundelkhand region to the Rashtriya Ispat Nigam Limited (RINL).

“We are confident the state government would soon take positive steps in this direction,” Verma said here. RINL had already applied for the lease of iron ore mines in Lalitpur district for setting up a pellet unit in the region. A P Chaudhary, Nigam chairman and managing director, said the plant would provide direct employment to 500 locals.

The improving visibility on commissioning of projects is a positive development and will accrue benefits in the long term, analysts say. The delay in commissioning of projects has been one of the key factors for underperformance of the stock.

However, Daga adds that the company has indicated that modernisation and expansion is progressing steadily and it would add two blast furnaces at IISCO and Rourkela Steel Plant, thereby adding 5 MT of hot metal capacity in the coming months. On the raw material front, SAIL has signed a Memorandum of Understanding (MoU) with the Chhattisgarh government for development of iron ore mines at Eklama iron ore deposit, which would bring some respite as developing green-field mines at Rowghat were becoming a tardy process due to Maoist activities.

Green nod crucial to ensure iron ore supply

SAIL may face iron ore shortage, if the country’s largest steel producer cannot resume production by January, at its 2.4 million tonnes a year Durgaiburu mine in Jharkhand. It is the oldest and largest mechanised (1,443 hectare) mine of the Gua complex in West Singhbum district. It was set for four-fold capacity expansion but remains closed for the past 17 months in the absence of environmental clearance.

CPI-Maoist have formed several committees to oppose the project

Bhilai Steel Plant (BSP), one of the main steel-producing units of Steel Authority of India (SAIL), ‘will fund construction of barracks’ for paramilitary forces to ensure security for the coming mining project at Raoghat in Kanker, central Chhatisgarh. The construction has been initiated, both Union Home Ministry and SAIL sources confirmed.

Top 50 corporate and industrial majors and most of the electricity generation and distribution companies in the country belonging to various state governments may face punitive action for not meeti

Bhubaneswar The Orissa government’s decision to recover Rs 57,907 crore from 27 mining lessees for extracting minerals in excess of the approved plan has upset the state mining sector. Many in the mining industry and experts have expressed their surprise over the state government’s action.

“The decision is illegal,” said Ashok Parija, former president of Bar Council of India. Parija said the extraction of minerals in excess of mining plan is not illegal, terming the notice served under Section 21(5) of the MMDR Act 1957 and fines imposed as not correct.