August 19, 2016 What is Star rating system for mines?
It rates mines out of five stars
A two-layered system: First a self-evaluation by the mine operator & then validated by the Indian Bureau of Mines under the Ministry of Mines
Objective: To bring all mines to minimum 4- or 5-star rating in the shortest possible time
Parameters: Efforts taken to mitigate environmental impact of the mines and to resettle and rehabilitate the people affected and the adoption of international standards for mining operations and reporting There will be random third-party checks to see whether the information provided by the operators is correct, and there should be penalties for those providing false information
August 19, 2016 Centre unveils Internet portal for online tracking of mines
News: The Ministry of Mines unveiled a web portal for the easy access to information regarding the mining sector in India, including a framework for rating mines
Star ratings: The Ministry, through the Indian Bureau of Mines, has developed a template for the star rating of mines
Web portal: Will have all the ratings of the mines and will also have information of the Sustainable Development Framework (SDF) for the mining sector
March 10, 2016 Days of coal shortage over: Union Secretary
News: The increase in the production of coal has led to 15% reduction in the imports The govt. has done necessary ground work for auctioning of coal mines for private commercial mining
Future: Coal India is now looking forward to 1-billion-tonne production by 2019-20, with a projected demand of around 1,200 million tonnes
March 2, 2016 Union Budget 2016-17: Coal cess doubled
News: Finance Minister increased the cess on coal production from Rs 200 per tonne to Rs 400 per tonne The Clean Energy Cess would be renamed as Clean Environment Cess
Background: In 2010, it was introduced as Rs 50 per tonne and this was the third time the cess was doubled
Statistics: India produces coal about 600 million tonnes a year and imports about 150 million tonnes every year to meet its demand
Impact: Along with domestically produced coal, the cess also applies to imported coal
February 19, 2016 ‘Uncover’ project of the Geological Survey of India
Context: state-of-the-art project to be implemented in 2 selected areas in the country is focused on probing for deep seated/ concealed mineral deposits
Relevance: This programme is also one of the important action points of the draft National Mineral Exploration Policy (NMEP)
Characterizing India’s geological cover
Investigating lithospheric architecture
Resolving 4D geodynamic and metallogenic evolution
Detecting and characterizing the distal footprints of ore deposits
February 4, 2016 Coal linkages to steel, aluminium, cement sectors only via auction
Move for transparency & level-playing field; follows SC declaring allocation of 204 coal mines/blocks as illegal due to arbitrary procedure.
This was decided by the
Cabinet Committee on Economic Affairs (CCEA) which met under Prime Minister Modi The auction ensures all
market participants have a fair chance to secure the coal linkage, irrespective of their size It attempts to ensure an
optimal allocation of coal across user industries and geographies The cabinet allowed the
railways ministry to form joint venture (JV) companies with the state governments
To mobilize resources for undertaking various rail infrastructure projects in states
January 12, 2016 Mines and Minerals (Development and Regulation) (Amendment) Bill, 2016
The new law will allow companies that received mining licences without having gone through the auction process to transfer these leases.
The 2015 law allowed transfer of mines allotted through auctions but was silent on
captive mining licences allotted in the past on the basis of recommendations by a screening committee. It will make M&As easier in the
steel cement, and metals sectors. It gives acquirers raw material security and scope for its optimal use in end-use plants in the cement, steel and aluminium sectors.
It will also help banks
liquidate such licences if they have been mortgaged to it..
January 12, 2016 Govt to amend mining law
The govt will amend the mining law in order to facilitate transfer of mines allotted for captive use to end-user industries.
It seeks to unlock thousands of crore worth of investments stuck in
debt-laden minerals and commodities sector. It will also allow
mergers and acquisitions of companies and facilitate ease of doing business for companies. Thid will improve
profitability and decrease costs of the companies dependent on supply of mineral ore from captive leases.
December 25, 2015 Let’s know about Mines and Minerals Act 2015
The Act was made to ensure
transparent auctions of minerals and
revolutionary change in the sector. The mining sector in India has been mired in controversy over the
illegal allocation of resources. Earlier MMDR Act, 1957
regulated the mining sector in India and specified the requirement for obtaining and granting mining leases for mining operations. The 2015 law included bauxite, iron ore, limestone and manganese ore as
notified minerals. The Bill provides for the creation of a
District Mineral Foundation and a National Mineral Exploration Trust.
December 25, 2015 Govt. to amend ‘deal-breaker’ mining law in Budget session
The govt is planning to amend a law which is holding up mergers and acquisitions in the distressed commodities and mining sector.
The current law is holding up
mergers and acquisitions worth thousands of crore. The deals are stuck in a
no-go zone due to the Mines and Minerals (Development and Regulation) Act of 2015. The act doesn’t allow transfer of
captive mines allotted to end-user plants in the past. Govt. will amend this act because there is
no alternative method to allow such acquisitions of captive mineral assets in the present law.
:( We are working on most probable questions. Do check back this section.