Category: Coal

While the first round of auction under the new commercial coal mining policy in November last year elicited only modest response, the government has re-packaged the blocks on offer under the second round by minimising the risks to potential investors. The Union coal ministry is planning to offer 64 new mines, with reserves of 30,505 […]

State-owned CIL on Wednesday said it has entered into a pact worth Rs 2,900 crore with a Belarus-based mining equipment manufacturer for purchase of dumpers. The pact is for purchase of 96 dumpers of 240 tonne capacity each, Coal India Ltd (CIL) said in a statement. ”CIL on Saturday last formally signed a major procurement […]

Mining PSU Coal India (CIL) has signed a Rs 2,900 crore purchase contract for procurement of 96 Dumpers of 240 tonne capacity each with Belaz, the Belarus-based mining equipment manufacturer. CIL’s board had given nod for procurement in August last year. These are the highest capacity dumpers operational in the country at present, playing a […]

In a bid to implement coal evacuation infrastructure projects in the state of Odisha, a joint venture of MCL, IRCON and IDCO- Mahanadi Coal Railway Limited is scouting for a chief executive officer. For the implementation of the project, one corridor has been identified initially. The estimated cost of the project is Rs 1,700 crore. […]

The government plans to provide incentive to mineral block allocatees for early commencement of production from the auctioned mines, a move aimed at increasing mineral output of the country and reducing imports. The mines ministry plans to do the same through amendment of the mining rules and has sought comments and suggestions from stakeholders on […]

The ministry of mines has proposed to allow transfer of letter of intent (LoI) handed out to a bidder even before prospecting or mining leases are granted, to the firm which acquires it later through the insolvency route. The Minerals (Other than Atomic and Hydro Carbons Energy Mineral) Concession Rules, 2016, provide a provision for […]

Mining sector stakeholders hailed the reform proposals approved by the Cabinet, but said that these structural changes should have come much earlier. The Cabinet on Wednesday cleared a proposal to amend relevant law for re-allocations of partially or minimally explored blocks through competitive bidding & offers seamless prospecting licence-cum-mining-leases. The changes will be effected by […]

The auction regime put the nation back by one generation with uncertain future for the growth of country’s mineral resources and continued dependence on ever-increasing imports, miners’ body FIMI has said. It also stressed that it is high time for India to deliberate whether auction is the right policy instrument for mineral development. Auction did […]

The Cabinet on Wednesday approved a proposal for mega mineral reforms, a move that will boost mineral production in the country and bring more mineral blocks into auction, according to sources. These reforms will be implemented through an amendment to the Mines and Mineral (Development and Regulation) Act, 1957 for which a bill will be […]

Coal India (CIL) becomes the topmost spenders among the PSUs furthering its capex for FY21 to Rs 13,000 crore, up 30%, from its earlier Rs 10,000 crore for the fiscal. This has been done going by the government’s direction to the Central PSUs to step up capital expenditures for stimulating economic activities. Of the additional […]

Over 500 non-coal mineral blocks, partially or minimally explored under current leases, but are entangled in legacy issues and litigation, will be up for grabs as the Cabinet is learnt to have approved a proposal to amend the relevant law for their re-allocations through competitive bidding. Also, the employment-intensive, but highly under-invested sector, will get […]

The Cabinet is likely to consider and approve the mining sector reform proposals, announced on May 16 by finance minister Nirmala Sitharaman as part of the Atmanirbhar package, in its next scheduled meeting Wednesday. Sitharaman had announced a series of reform proposals for the mining sector. First, as opposed to separate licenses for exploration and […]