Search Result for : Mining Exploration

Besides ensuring ways for offering of exploration blocks through a bidding process, the new policy measures allow Non-exclusive Multi-Client Speculative Survey for assessment of unexplored sedimentary basins The Dollar Business Bureau Minister of State (I/C) for Petroleum & Natural Gas Dharmendra Pradhan informed about new policy reforms in a written reply to Rajya Sabha on Wednesday.   With a view to enhance the countrys energy capacity, the Union Petroleum Ministry has announced key measures which aim to boost exploration activities and indigenous oil and natural gas production. An official announcement in this regard was made by the Minister of State (I/C) for Petroleum & Natural Gas Dharmendra Pradhan, in a written reply to Rajya Sabha on Wednesday. New measures intend to encourage National Oil Companies ...

Amid subdued demand and weakening prices, iron-ore pellet makers and some miners had sought reduction of export duty on iron ore to make the industry competitive The Dollar Business Bureau The government has already taken several measures such as imposing safeguard duty, increasing customs duty and implementing stringent quality guidelines for imported steel   Addressing long-pending concerns of the domestic iron and steel industry, the government has scrapped export duty on iron ore pellets, thus giving a fillip to the sector which has been battling global demand slump and weak prices in the international market. GOI removes 5 % export duty on iron ore pellets. This would improve capacity utilization of pellet plants and give necessary boost to sector, Narendra Singh Tomar, Union Minister ...

Mines Ministry also stressed on the need for raising exploration spend from the current 0.4% The Dollar Business Bureau For attracting private sector in exploration, the government proposes three models revenue share from mining lease proceeds for 50 years, reimbursement of costs, and joint venture with public sector.   The government is actively thinking of allowing private sector companies including overseas exploration firms to carry out mining activities in the country. The Ministry of Mines said on Thursday that it is in the process of bringing a national mineral exploration policy so as to ensure active participation from private companies in the sector. The government is committed towards bringing in an attractive exploration policy to encourage private investment and expertise into the sector and ...

The Dollar Business Bureau The Central Government is in the process of finalizing a policy to engage private players in mining sector. According to Union Minister for Steel and Mines, Narendra Singh Tomar, private sector would be brought in as an equal partner into the process once the guidelines and framework have been finalized. “82 mining blocks have been earmarked for auction and will be announced by end of October as Phase-I. Another 96 blocks have been identified for Phase-II,”he said addressing the Mining Leaders Roundtable meeting organised by the Confederation of Indian Industry (CII) in New Delhi on Friday. The auction process would be based on data provided by the Mineral Exploration Corporation of the states, he said, adding thathe will also ...