Monday, 20 Feb 2012
The Karnataka government has urged the Supreme Court to allow 117 mining companies to resume iron mining in the state.
The Central Empowered Committee appointed by the apex court to probe illegal mining in the state, had recently recommended for permitting these mines to restart mining.
Mr SV Ranganath chief secretary government of Karnataka in an affidavit filed before the Supreme Court said that “It is learnt that a few mines have been cleared by CEC, wherein no significant illegality or irregularity has been noticed. These mines, classified as A category”, may kindly be allowed to operate without hindrance.”
Similarly, there are some other mines, which have been enumerated as “B category”, for reasons of some or the other kind of illegality or irregularity noticed by the CEC. He said that “Such mines may also be kindly allowed to operate and the state government would undertake to ensure all material safeguards in place and due diligence is exercised by all agencies as per the orders of the Supreme Court.”
The chief secretary has further added the government will take whatever action as directed by the Supreme Court in respect of those mines classified under “C category.”
The CEC in its report submitted to the apex court on February 3, had recommended for cancellation of 49 mining leases in the ‘C Category’ and reauctioning of those leases as per the current market prices.
Some of the mines classified under ‘A category’ include NMDC, Mineral Enterprises Ltd, and two leases of Mysore Minerals Ltd, among others. ‘Category B’ includes Sesa Goa, MSPL, Sandur Manganese and Iron Ores Ltd and Mysore Minerals Ltd, among others.
The CEC has recommended for cancellation of ‘Category C’ leases after paying the penalty. They include Canara Minerals, Associated Mining, Trident Minerals, Deccan Mining Syndicate (P) Ltd and V S Lad & Sons, among others.
(Sourced from BS)
Showing posts with label mining permission. Show all posts
Showing posts with label mining permission. Show all posts
Monday, February 20, 2012
Tuesday, October 25, 2011
Essar’s Zimbabwean steel quest turns sour
The African nation declines to supply the resource; firm may have to renegotiate the terms of the contract
Tue, Oct 25 2011
The Essar Group’s quest for iron ore remains elusive with Zimbabwe declining to supply the resource as envisaged in a contentious deal between the Indian conglomerate and the African state.
The Essar Group may have to renegotiate the terms of the contract if it wants to continue with its plans in the African nation.
Zimbabwe won’t sell 90% of its iron ore resources to one company, mines and mining development deputy minister Gift Chimanikire said. He added that the provision in the current pact that allowed this was wrong.
“We have said to them (Essar): Do not expect us to hand over these resources. As government, we cannot just do that,” Chimanikire was quoted as saying by The Herald, a daily published by the Zimbabwean government.
An Essar Group spokesman said it was against company policy to comment on speculative reports.
“Essar continues to hold discussions with the Zimbabwe government over a number of issues relating to the Zisco (Zimbabwe Iron and Steel Co.) transaction, and we continue to make progress. However, we would not like to comment on any specific points,” the spokesman said.
Essar’s deal to gain access to a captive source of iron ore has been caught in political crossfire ever since it was signed in early August.
The Essar Group and Zimbabwe announced the launch of NewZim Steel Pvt. Ltd and NewZim Minerals Pvt. Ltd to revive Zisco, committing an $850 million investment by Essar Africa with the promise of job creation.
The shareholding structure in the two joint ventures was envisaged at 60:40 and 80:20, respectively.
Essar also committed to revive Zisco to its original capacity and unveiled a plan to double annual capacity to 2.5 million tonnes.
NewZim Minerals was to undertake exploration and technology assessment, with a testing programme commencing in the first 18 months. After this, depending on the outcome, it was to construct a large-scale beneficiation project and related infrastructure for an estimated expenditure of $3.5 billion.
Beneficiation is a process in which low-grade iron ore is upgraded to higher iron content through concentration and elimination of impurities.
Some members of Zimbabwe’s coalition government have questioned the deal, even as the strife-torn nation’s President Robert Mugabe has called for a general election in early 2012.
Industry and commerce minister Welshman Ncube led negotiations when the deal was signed.
Ncube is part of the Mutambara faction of the Movement for Democratic Change (MDC-M), which split in 2005 from the original Movement for Democratic Change, called MDC-T, headed by current Prime Minister Morgan Tsvangirai. Chimanikire belongs to MDC-T’s Tsvangirai faction.
Both factions of the MDC share an uneasy alliance with the Zanu-PF in the current coalition government.
Zimbabwe’s 87-year-old President Mugabe, the leader of the Zanu-PF party, has been ruling the country for three decades, but was forced to share power with political opponent Tsvangirai after the 2008 elections.
As no candidate received an outright majority in the first round of elections, a second was called, but Tsvangirai withdrew his candidature a week before this, citing violence against his party’s supporters.
Amid sustained international pressure, former South African president Thabo Mbeki brokered a power-sharing agreement with an arrangement, the so-called Global Political Agreement, for Mugabe to remain President while Tsvangirai was made Prime Minister.
“Resource nationalism is rising in many parts of the world where governments and other stakeholders believe that value has already been created once it’s known that resources exist, but that is a misplaced notion,” said Anjani Agrawal, national leader for mining and metals sector at global consultancy Ernst and Young.
Resource nationalism refers to the recent trend of governments across the world targeting the metals and mining sector to increase revenue in the face of commodity deficits and the consequent rise in prices.
Essar Africa Holdings Ltd, a group company incorporated in Mauritius, emerged as the preferred bidder for Zisco and the iron ore resources that it owned beating the world’s largest steel maker by capacity, ArcelorMittal, and the Naveen Jindal-headed Jindal Steel and Power Ltd.
keyword- Essar Group, Zisco, imbabwe
sourced livemint
Tue, Oct 25 2011
The Essar Group’s quest for iron ore remains elusive with Zimbabwe declining to supply the resource as envisaged in a contentious deal between the Indian conglomerate and the African state.
The Essar Group may have to renegotiate the terms of the contract if it wants to continue with its plans in the African nation.
Zimbabwe won’t sell 90% of its iron ore resources to one company, mines and mining development deputy minister Gift Chimanikire said. He added that the provision in the current pact that allowed this was wrong.
“We have said to them (Essar): Do not expect us to hand over these resources. As government, we cannot just do that,” Chimanikire was quoted as saying by The Herald, a daily published by the Zimbabwean government.
An Essar Group spokesman said it was against company policy to comment on speculative reports.
“Essar continues to hold discussions with the Zimbabwe government over a number of issues relating to the Zisco (Zimbabwe Iron and Steel Co.) transaction, and we continue to make progress. However, we would not like to comment on any specific points,” the spokesman said.
Essar’s deal to gain access to a captive source of iron ore has been caught in political crossfire ever since it was signed in early August.
The Essar Group and Zimbabwe announced the launch of NewZim Steel Pvt. Ltd and NewZim Minerals Pvt. Ltd to revive Zisco, committing an $850 million investment by Essar Africa with the promise of job creation.
The shareholding structure in the two joint ventures was envisaged at 60:40 and 80:20, respectively.
Essar also committed to revive Zisco to its original capacity and unveiled a plan to double annual capacity to 2.5 million tonnes.
NewZim Minerals was to undertake exploration and technology assessment, with a testing programme commencing in the first 18 months. After this, depending on the outcome, it was to construct a large-scale beneficiation project and related infrastructure for an estimated expenditure of $3.5 billion.
Beneficiation is a process in which low-grade iron ore is upgraded to higher iron content through concentration and elimination of impurities.
Some members of Zimbabwe’s coalition government have questioned the deal, even as the strife-torn nation’s President Robert Mugabe has called for a general election in early 2012.
Industry and commerce minister Welshman Ncube led negotiations when the deal was signed.
Ncube is part of the Mutambara faction of the Movement for Democratic Change (MDC-M), which split in 2005 from the original Movement for Democratic Change, called MDC-T, headed by current Prime Minister Morgan Tsvangirai. Chimanikire belongs to MDC-T’s Tsvangirai faction.
Both factions of the MDC share an uneasy alliance with the Zanu-PF in the current coalition government.
Zimbabwe’s 87-year-old President Mugabe, the leader of the Zanu-PF party, has been ruling the country for three decades, but was forced to share power with political opponent Tsvangirai after the 2008 elections.
As no candidate received an outright majority in the first round of elections, a second was called, but Tsvangirai withdrew his candidature a week before this, citing violence against his party’s supporters.
Amid sustained international pressure, former South African president Thabo Mbeki brokered a power-sharing agreement with an arrangement, the so-called Global Political Agreement, for Mugabe to remain President while Tsvangirai was made Prime Minister.
“Resource nationalism is rising in many parts of the world where governments and other stakeholders believe that value has already been created once it’s known that resources exist, but that is a misplaced notion,” said Anjani Agrawal, national leader for mining and metals sector at global consultancy Ernst and Young.
Resource nationalism refers to the recent trend of governments across the world targeting the metals and mining sector to increase revenue in the face of commodity deficits and the consequent rise in prices.
Essar Africa Holdings Ltd, a group company incorporated in Mauritius, emerged as the preferred bidder for Zisco and the iron ore resources that it owned beating the world’s largest steel maker by capacity, ArcelorMittal, and the Naveen Jindal-headed Jindal Steel and Power Ltd.
keyword- Essar Group, Zisco, imbabwe
sourced livemint
Sunday, February 13, 2011
Indian iron ore mining mess - CBI issues notices to 65 iron ore miners
Sunday, 13 Feb 2011
Soon after the Supreme Court lifted its stay on the export of iron ore, the Central Bureau of Investigation, which is conducting an inquiry into illegal mining particularly in the Andhra Pradesh Karnataka border area of Bellary and issued notices to 65 mining companies in the district.
The companies include those owned by Karnataka tourism minister Mr G Janardhana Reddy, his family members and close associates.
The companies have been asked to furnish details about their export, mining lease plans and permits, monthly and annual returns, articles of association, details of company directors and their balance sheets from 1998 to date.
After a CBI team concluded a three day inspection of various mining areas in the district, Mr PV Seetharam inspector of police CBI Bangalore, issued the notices to the companies, which have to respond by February 18.
An official said the CBI's intention is to unearth the Reddy owned Obalapuram Mining Co's deals on mining leases in the district, mutual contracts with other companies, as well as any illegal mining leases and transactions.
(Sourced from domain-B)
Soon after the Supreme Court lifted its stay on the export of iron ore, the Central Bureau of Investigation, which is conducting an inquiry into illegal mining particularly in the Andhra Pradesh Karnataka border area of Bellary and issued notices to 65 mining companies in the district.
The companies include those owned by Karnataka tourism minister Mr G Janardhana Reddy, his family members and close associates.
The companies have been asked to furnish details about their export, mining lease plans and permits, monthly and annual returns, articles of association, details of company directors and their balance sheets from 1998 to date.
After a CBI team concluded a three day inspection of various mining areas in the district, Mr PV Seetharam inspector of police CBI Bangalore, issued the notices to the companies, which have to respond by February 18.
An official said the CBI's intention is to unearth the Reddy owned Obalapuram Mining Co's deals on mining leases in the district, mutual contracts with other companies, as well as any illegal mining leases and transactions.
(Sourced from domain-B)
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