Mineral Sector

Bihar discovers deposits of critical minerals, preps for auctioning rights

The Bihar government is preparing to auction mining rights for minerals such as limestone, vanadium-bearing magnetite ilmenite, magnetite and glauconite that have been discovered in various non-forest areas of the state, a senior official said on Thursday. Explorations near Patalganga in Gaya, parts of Rohtas district and Majos in Jamui district found the presence of millions of tonnes of mineral reserves, according to an official document seen by PTI. "The state government will engage SBI Capital Markets (SBICAPS) as the transaction advisor for the auctions, and also to suggest the terms and conditions based on which the auctions would be held," Additional Chief Secretary and Mines Commissioner Harjot Kaur Bamhrah told PTI. "Undoubtedly, the discovery of such critical minerals in non-forest areas of the state is a matter of great satisfaction. We don't have to seek permission from authorities concerned before initiating exploration activities as these deposits are not in forest ...

India, Australia eye early conclusion on comprehensive trade pact

India, Australia to increase cooperation in critical minerals sector

Extensive exploration programme to find minerals stepped up in Rajasthan

Additional Chief Secretary (Mines and Petroleum) Subodh Agarwal said each part of the state was rich in some mineral

Rajasthan govt plans e-auctions for mines, minerals to boost production

Mines Minister Pramod Jain Bhaya said the auction of the mining plots increased the revenues of the state government and stopped illegal mining

India should leverage southern Africa's rare earth minerals: Exim Bank

India needs to form strategic alliances with southern African countries where critical rare earth minerals are produced, as the world looks to the continent to fulfil the ever-increasing demand for them, a report by India Exim Bank has suggested. The report, titled 'Reinvigorating India's Engagements with Southern Africa,' was released in Johannesburg this week as part of the CII-Exim Bank Regional Conclave on India-Southern Africa Growth Partnership. Development finance institutions from India and the African Development Bank should work closely with the governments of the southern Africa countries to understand the needs of these commercial Rare Earth Elements (REE) development attempts and support the companies to develop the value chain from end to end, the report said. The region is richly endowed in lithium, graphite, cobalt, nickel, copper, and other rare earth minerals. All of these are essential for building the global green economy of the future and they also comprise ne

Centre encouraging mineral exploration in Northeast: Pralhad Joshi

Union Minister Pralhad Joshi said on Monday that the Centre is making efforts to ensure that mineral resources are properly exploited in the northeast for the benefit of the region. He stated that the Union government is also examining the environmental implications of coal and oil exploration in the northeast. Talking to media persons in Chumoukedima district of Nagaland after the day-long 'Northeast Geology & Mining Ministers Conclave', he said efforts to encourage quarrying activities were being made across the country. "The Ministry of Mines is making continuous efforts to encourage mining activities pan India. Accordingly, to further encourage exploration activities in the mineral-rich northeast region, the first such conclave was held in Nagaland," he said. "The Centre is also keenly examining the environmental implications of coal and oil exploration in the region," the Union minister of mines and coal maintained. Joshi said that the Geological Survey of India (GSI) has ...

Survey to explore minerals at 25 potential sites in Chhattisgarh

One site each of potential gold, copper, graphite, bauxite, and moissanite would be taken up for the initial study, the official said.

GMDC's Q2 net profit surges nearly four-fold to Rs 151 crore

State-owned GMDC on Tuesday reported nearly four-fold rise in its consolidated profit at Rs 151.2 crore for the quarter ended September 30, 2022. The company had posted a consolidated profit of Rs 40.4 crore in the year-ago period, Gujarat Mineral Development Corporation (GMDC) said in a filing to BSE. The consolidated income of the public sector enterprise increased to Rs 591.4 crore in the July-September period from Rs 494.7 crore in the year-ago quarter, the filing said. GMDC is country's second largest lignite producer.

French mineral firm Imerys plans to ramp up Vizag plant production

Will increase calcium aluminates capacity by 2030 to about 50,000 tonnes from 30,000 tonnes currently in line with India's target of achieving a 300 million tonne crude steel capacity

Rajasthan announces amnesty scheme for mining leases up to Mar 31, 2021

The mines department's Arrears and Interest Waiver Scheme, 2022, will be applicable to the outstanding dues of those in the business of minor minerals

17 mineral mines taken back from states over non-production: Pralhad Joshi

In March, Lok Sabha passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2021

NMDC hikes lump ore rate to Rs 4,100 per ton; fines at Rs 2,910

State-owned NMDC on Thursday hiked prices of lump ore by Rs 200 a tonne and fines by Rs 100 per tonne with immediate effect. The company has fixed the prices of lump ore at Rs 4,100 per tonne and that of fines at Rs 2,910 a tonne. In its last price revision announced on July 12, NMDC had slashed the prices of lump ore and fines by Rs 500 per tonne each to Rs 3,900 and Rs 2,810, respectively. Iron ore is one of the key raw materials used in the manufacturing of steel, and any movement in the prices of the mineral has a direct impact on the rates of steel that has been a matter of concern for the user industries for the past couple of months. Research firm SteelMint attributed the hike to "lower production (of the mineral) owing to monsoons, restocking demand and stability in steel prices are some of the factors supporting iron ore prices". The new rates exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes,

Govt releases Natural Resource Accounting to track mineral, energy deposits

The asset accounts would help identify alternate economic and energy-based resources, and aid in developing an ecosystem for containing illegal mining

State-owned GMDC to expand lignite production as demand increases

Company says 10 million tonnes production this year, sees gaining business from small businesses

Rajasthan enters uranium mining, issues LoI to Uranium Corporation

The Rajasthan government has forayed into the field of uranium mining by issuing a letter of intent (LoI) to Uranium Corporation of India.

NMDC Apr-Feb output jumps 26% to 37.18 MT; sales up 25.5%

In February 2022, the company saw its production growing 11.7 per cent to 4.31 MT from 3.86 MT in the same month last year

Bihar govt to allow exploration of mineral reserves worth Rs 14,594 cr

The Mines and Geology Department has decided to allow exploration of mineral deposit of around 48.40 million tonne of magnetite

Centre wants to loot Jharkhand's minerals, doesn't care development: Soren

Jharkhand Chief Minister Hemant Soren on Friday claimed that the Union government, instead of taking measures for the state's development, is trying to "loot" its rich mineral resources.

Govt notifies amended mineral conservation and development rules

The government has notified the amended mineral conservation and development rules, a move will that will improve mine planning practices

Mineral concession amendments to raise availability, ease pricing pressure

Major changes to mining industry include allowing part surrender of mines, permitting sale of up to 50% of minerals by captive owners and easy transfer of mines