Mining at NMDC s 7-million tonnes per annum (MTPA) Donimalai mine in Karnataka resumed from Thursday. After remaining closed for over two years, the country s largest iron ore miner company was able to resume operations following the necessary permission and clearances from the Karnataka government. Arnab Hazra, deputy secretary-general of the Indian Steel Association (ISA), the country s apex body that represents the interest of domestic steel industry, said Donimalai is an important mine in the southern region. It will help the mills in the Southern India with smooth supply of raw material. Anil Kumar Chaudhary, former CMD of the country s largest steel maker SAIL, said, It has been possible by the efforts taken by the steel ministry to resolve the issue.
The letters to the PMO letters to the PMO blamed each other for the price rise in steel that threatens to scupper the country’s ambitions in infrastructure which will be a key theme in the budget on February 1
FIMI debunks mine auction process; blames it for raw material shortage
January 18, 2021
Revenue earned by state governments much less than forex spent on imports, says FIMI
The Federation of Indian Mineral Industries has debunked the government projection of open auction of mines as the panacea for all ills plaguing the mining industry, and generating huge revenues for State governments through resource development.
Following an analysis of the auction system of mines in the last 10 years, FIMI said the system has resulted in scare setting in among various industries about the availability of raw materials, which led to high and unsustainable bids, and costly raw materials, rendering the industries unviable, leading to their imports and foreign exchange outgo.