Vedanta to explore gold mine after rains in Chhattisgarh
The Dollar Business Bureau Vedanta Ltd. on Wednesday announced it will begin the process of exploration of gold mine after the monsoon. The company was awarded the first-ever auction of a gold mine in India in February this year. "We were successful with gold auction in Chhattisgarh. The gold reserve that was there at the time of auction was probably small for Vedanta," Tom Albanese, Group Chief Executive Officer of Vedanta Ltd. told PTI. "But our geologists suggested that may be there will be more (reserve) there. So we have decided to take up more exploration and deep drilling. We are hoping as we come out of the wet season we start some deep drilling," Albanese added. In February this year, this global diversified ...
Twenty-two SEZ projects cancelled for no progress; 27 get more time
The Dollar Business Bureau The government has cancelled 22 projects for the setting up of special economic zones (SEZs) related to IT and engineering sectors. The projects, including 11 SEZs proposed in the national capital region (NCR), that were cancelled because their developers failed to make “satisfactory” progress. The decision to cancel these SEZs was taken after Commerce Secretary Rajiv Kher held a review meeting with the Board of Approval (BoA) on May 19. “The Board noted that the progress made by the developer is not satisfactory. The Board, after deliberations, decided to cancel the formal approval/notification, as the case may be, in these 22 cases,” said a statement released by Commerce Ministry. The board has also asked the developers to ...
