Bill to introduce auctioning in mines passed by Lok Sabha

Last Updated: Tuesday, March 3, 2015, 20:07

A bill seeking to introduce the system of auction of mines to enhance transparency and augment mineral production was passed in Lok Sabha Tuesday, with the government terming it a "revolutionary" step.

Iron ore imports jump multi-fold to 5.63 MT in Apr-Nov, FY15

Last Updated: Monday, March 2, 2015, 16:03

Iron ore imports have increased sharply to 5.63 million tonnes in 2014-15 till November as against 0.37 million tonnes in previous financial year, the government said today.

ArcelorMittal sees iron ore hit, lower steel growth in 2015

Last Updated: Friday, February 13, 2015, 12:52

ArcelorMittal, the world`s largest producer of steel, forecast on Friday its profit would fall in 2015, rather than improve as expected, as iron ore prices sapped mining earnings and steel market growth cooled from last year.

Fimi wants scrapping of export duty on iron ore fines

Last Updated: Monday, February 9, 2015, 18:54

Miners' body Federation of Indian Mineral Industries (FIMI) has sought bringing down export duty on low-grade iron ore and pellets to nil and raising import duty on pellets to 30 per cent in the Budget.

Fresh blow to Posco as the firm needs to bid for ore mine

Last Updated: Thursday, February 5, 2015, 21:49

In a fresh blow to Posco, the South Korean steel major will be required to participate in auction to get iron ore mine to feed its USD 12 billion facility in Odisha instead of direct allotment as assured earlier.

Govt may cut duty for iron ore exports from Goa

Last Updated: Thursday, February 5, 2015, 16:01

Keen on bailing out the struggling Goan iron ore sector, the Centre may soon announce a special package for miners in the state by pruning duty on exports of the steel-making raw material from 30 per cent.

Around 12 million tonnes of iron ore stuck at Indian ports

Last Updated: Wednesday, February 4, 2015, 11:31

Around 12 million tonnes of low-grade iron ore has been stuck at Indian ports for months, stranded as hefty export taxes and plunging prices make higher quality ore more appealing to buyers, said industry and government officials.

Mixed reaction from industry on mines ordinance

Last Updated: Wednesday, January 14, 2015, 21:01

Steel makers on Wednesday welcomed mines ordinance while some core mining firms alleged that unfair treatment has been metted out to them by giving just 5-year lease extension for non-captive mines.

Presidential assent to mines ordinance; deadlock could be over

Last Updated: Tuesday, January 13, 2015, 17:11

The logjam in the mines sector is expected to be cleared with the promulgation of an ordinance by the President that provides for auctioning of mines containing iron ore and others besides provision for up to five years of imprisonment for illegal mining.

Prez nod to ordinance for iron ore, non-coal mineral auction

Last Updated: Tuesday, January 13, 2015, 13:21

President Pranab Mukherjee has given his assent to an ordinance for auction of iron ore and other non-coal mines, a government source said.

Prez nod to ordinance for auction of iron ore, non-coal minerals

Last Updated: Tuesday, January 13, 2015, 00:05

President Pranab Mukherjee on Monday gave his assent to an ordinance for auction of mines of iron ore and other minerals, a government source said.

Boost iron ore output to propel India's growth: Anil Agarwal

Last Updated: Monday, January 12, 2015, 18:01

ndia needs to boost iron ore output and invest in developing natural resources to propel its economic growth and eradicate poverty, Vedanta Resources Chief Anil Agarwal said.