Search Result for : Ministry Of Mines

The Dollar Business Bureau Bauxite production in India is likely to increase to 49.4 million tonnes by 2021 from 22.08 million tonnes in 2016, according to a report.   The production of bauxite in the country is estimated to be 26.1 million tonnes in 2017, an increase of 18 compared to last year 2016, the report by BMI Research said. The production of the metal is likely to reach to 49.4 million tonnes in 2021, the report said.  “We forecast Indian bauxite production to grow from 26.1 million tonnes in 2017 to 49.4 million tonnes in 2021, averaging an annual growth rate of 17.5% during 2017-2021, significantly higher than the annual average 3.9% growth over 2012-2016,” the Research report said.  The growth of bauxite production in ...

The Dollar Business Bureau Mineral exploration in the country is presently constrained due to lack of participation from the private sector, said Power, Coal, New & Renewable Energy and Mines Piyush Goyal, and suggested a public private partnership (PPP) model to provide a fillip to the mineral exploration activity. “The time is ripe to reflect on where we had gone wrong”, the Minister said while addressing a conference on ‘Indian Mining Industry 2030 - Way Forward’, organised jointly by FICCI and Ministry of Mines on Tuesday. He suggested setting up of a committee that consists of young mining aspirants for developing a position paper to expedite exploration activities. “This committee should look at innovative ways to bring down the time of actual operation of mine after it ...

PTI Around 20 mines across the country would be put to auction soon, Union Secretary for Mines Balvinder Kumar said here today. Of the total 17 mines auctioned so far after amendment of the MMDA Act, the highest 7 blocks belonged to Karnataka. One mining block of Odisha has been auctioned so far, Kumar said after a discussion with Odisha Chief Secretary A P Padhi here. He asked the state government to take steps for execution of lease deeds of 60 mines in the state. "We reviewed all cases. We called mines owners also. They explained the cases and I have also requested the chief secretary that the state government should give priority to these cases," Kumar said. If these lease deeds were ...

The Dollar Business Bureau The government would put on auction a total of nine mineral blocks, including two from Karnataka iron ore plots, with response up to 100% bidding over reserve price. Inaugurating an Assocham conference on 'India Mining Summit 2016' on Tuesday, Ministry of Mines Secretary Balvinder Kumar said, “A total of nine blocks will be put on auction, including two from Karnataka iron ore plots and total seven blocks, are being put up to auctions by state government of Karnataka and we expect extremely good response in these seven mineral areas." The government will receive over Rs 25,000 crore by the way of royalties over the period of 50 years. The bids for the first iron ore plot in Karnataka were 90% ...

The Department of Science and Technology (DST) and the Council on Energy, Environment and Water (CEEW) jointly organized a National Dialogue themed ‘Critical Mineral Resources for India's Manufacturing Needs,’ on Tuesday in New Delhi. Balvinder Kumar, Secretary Mines, after delivering the keynote, released the DST report on ‘Critical Non-Fuel Mineral Resources for India’s Manufacturing Sector: A Vision for 2030.’ The Indian government in the past few years has put in major efforts to boost the growth of Indian mining sector through transparent auctions, speedy clearances and creating an exploration fund. The main focus of the national dialogue was on the recommendations of the study, basing on which they outlined an action plan identifying key mineral resources for India and methods to bring down supply risks. After ...

PTI  State-run Nalco inked a pact with the Union Ministry of Mines to meet revenue target Rs 7,100 crore revenue from operations. The MoU was formulated as per the new guidelines of Department of Public Enterprises and finalised after discussions with both an Inter-Ministerial Committee as well as Ministry of Mines. The MoU was signed between Balvinder Kumar, Secretary, Ministry of Mines and Dr Tapan Kumar Chand, CMD of Nalco in New Delhi, a company release said. As per the MoU, the target for revenue from operations, excluding excise duty, has been fixed at Rs 7,100 crore. The MoU has also set higher targets for production of both alumina and aluminium as compared to the previous fiscal, it said. Nalco has set an annual ...

The Dollar Business Bureau The index of mineral output of mining and quarrying sector for May 2016 (new series 2004-05=100) witnessed a 1.3 percent growth compared to the same month in 2015. The cumulative growth for April-May 2016-17 as compared to the corresponding period of last year surged 1.2 percent, according to the provisional figures provided by Ministry of Mines in a statement on Monday. The overall value of India’s mineral production, excluding the atomic and minor minerals, during the month of May this year stood at Rs.18809 crore, in which coal contributed the highest at 39 percent (Rs.7423 crore). The contribution of other minerals include crude petroleum Rs.5595 crore, natural gas (utilised) contributed Rs.2122 crore, iron ore Rs.1968 crore. In addition, limestone and lignite segments contributed ...

The Dollar Business Bureau The government will auction 100 potential mineral blocks of 100 sq km area each by November 2016, a decision that will enhance India’s potential of mining. This decision comes after the approval of the new National Mineral Exploration Policy (NMEP) by the government last week, in order to attract more foreign direct investment (FDI) in the sector. “Geological Survey of India (GSI) has identified 100 blocks. SBI CAP is working on the auction modalities for these blocks and will submit its report in 2-3 months,” Narendra Singh Tomar, Union Minister of Steel, Mines, Labour and Employment, told journalists at the 1st conclave on National Minerals & Mining held in Raipur. On the question of time line, the Minister said that the ...