India to auction 100 mineral blocks by Nov this year
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 ...
'Present govt helped the economy on a larger scale'
Narendra Singh Tomar spoke about how focus on rail network, village electrification, rural areas, road construction and infrastructure will enhance the economy and bring welfare to the steel and the mining industry. The Dollar Business Bureau After the formation of the new government, 16 million tons of steel have been produced and these have been done through SPVs Union Minister for Steel and Mines, Narendra Singh Tomar was said to have invited Pahong city based major business players to invest in the Indian government's initiatives. Tomar while addressing a press conference in Delhi said that, Modi Government has adopted a result oriented approach in every sphere of the economy. The results have already started to show. The ministerspoke about how the focus on rail ...
India, Australia sign mining cooperation agreement
Source: PIB, Government of India “The total trade between India and Australia in 2013-14 was to the tune of 15 billion Australian dollars. We are hopeful that by forging mutually beneficial alliances, India will go on to feature in the top ten trade partners of Australia,” said Minister of Steel & Mines Narendra Singh Tomar in his inaugural address to an international audience assembled at the Asia Pacific International Mining Exhibition (AIMEX) 2015 in Sydney on Tuesday. Tomar is heading a delegation, comprising heads of mining organisations and ministry officials to AIMEX 2015. The Minister shared the dais with Indian High Commissioner in Australia Navdeep Suri at the India Day event, held with the objective of inviting proactive partnership of miners ...
India becomes the third largest producer of Steel: Union Minister
Source: PIB, Government of India The Union Minister for Mines and Steel, Narendra Singh Tomar chairing the Consultative Committee meeting of the Ministry of Steel and Mines, in Bengaluru, Karnataka on July 07, 2015. Source: PIB, Government of India Union Minister of Steel and Mines Narendra Singh Tomar said that, so far India was the 4th largest steel producer in the world only after China, Japan and the US. However, during the first five months of this calendar year, India has achieved the 3rd position in the global steel production. The minister was speaking at the meeting of the Parliamentary Consultative Committee attached to the Ministry of Steel and Mines on July 7, 2015. He elaborated that Indian steel industry is ...
Mining Amendment Act to simplify procedures, avoid delays
The Dollar Business Bureau The Steel & Mines Minister, Narendra Singh Tomar, on Thursday, said the Mines and Minerals Development and Regulation (MMDR) Amendment Act will simplify the procedures and avoid delays in mining sector. Addressing the media, the Union Minister informed that once the Act is notified in a week’s time, the States will be provided with the draft rules of the Act to go ahead with the simplified mining procedures. The Union Minister further informed that the States will no longer have to wait for the Centre’s approval for a mining process, as the Act (Section 5(2)(b)) allows the State Governments to devise a system for filing of a mining plan avoiding the need for prior approval ...
Steel imports: China and India lead the dumping race
The Dollar Business Bureau Excess capacity, decrease in demand and production of low quality iron ore have resulted in China and India ending up in a race like situation vis-à-vis dumping of steel. While the global steel industry is undergoing tough times, the domestic steel sector is not far behind with domestic steel manufacturers resenting against Chinese imports. Latest reports indicate that close to 3.0 million tonnes of steel was imported from China in the last 10 months in comparison to 8.1 MT of total imports of the metal. Recently, there were reports that the Government of India is mulling to cut the export duties on low-grade iron ore produced by Goa and boost the shipments to China. Earlier, ...
Steel producers ask Centre to act against growing imports
Sai Nikesh | The Dollar Business The domestic steel producers of India on Monday urged the Government of India to strongly act against the growing imports of steel into the country. The steel producers urged the Government of India to increase import duties or implement anti-dumping policies, in order to curb the growing steel imports. The domestic steel producers are of the view that they will have surplus demand in view of the growing infrastructure projects. In this regard, they don’t want their production left behind and so they are urging the government to place curb on growing steel imports. According to earlier reports, the domestic companies had decreased their costs below their production values, due to the cheap ...
Indias mining through auction policy gets a thumbs up
Sai Nikesh | The Dollar Business Indian mining sector was hailed upon by the global participants at an annual global event on mining, held at Cape Town, South Africa. The Indian delegation led by the Indian Union Minister for Mines and Steel Narendra Singh Tomar was in South Africa for MINING INDABA 2015, to highlight the scope being provided by the Indian mining sector for foreign investments. Speaking at the event attended by more than 10,000 people across the globe, the Indian Minister highlighted the recent amendments made to the Mining Laws and Regulations in India. Stressing upon the mining process through auction route, the Minister informed that the recent amendments would bring transparency in allocation of minerals. The ...
