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| 07 August, 2020, 02:50 PM IST | E-Paper
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    Metals & Mining

    NMDC sees 13% rise in production in July, sales grow 7%

    NMDC achieved a production of 2.19 million tonne (MT) and sales 2.57 MT during the month under review, despite the current uncertain situation due to COVID-19. In July 2020, the Chhattisgarh Projects registered a production of 1.56 million tonne as compared to the total production of 1.16 million tonne in the corresponding month of July last year, an increase of 35% in production.

    FDI in commercial mining: Govt nod needed for companies from nations sharing border with India

    According to the Press Note 3 of 2020, an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government route.

    Coal executives' association calls for necessary changes in PESB selection procedure

    All India Association of Coal Executives (AIACE) also demanded that all the applicants for the advertised post by Public Enterprises Selection Board (PESB) should be considered for interview.

    Sumit Deb assumes charge as Chairman-cum-Managing Director of NMDC Ltd

    Sumit Deb assumed charge as Chairman-cum-Managing Director of NMDC Limited on August 1, 2020. Prior to assuming the role of CMD, NMDC, Deb was Director (Personnel) of NMDC. He succeeds N. Baijendra Kumar, IAS, who has superannuated from the services of the corporation on July 31.

    Mines auction: Centre to change 5 coal blocks in Chhattisgarh with 3 other mines in state

    Coal Minister Pralhad Joshi said the commencement of commercial coal mining will start a new era of growth and development in Chhattisgarh. Under commercial coal mining, the state will fetch a minimum Rs 4,400 crore revenue in a year and an additional minimum premium of Rs 2,000 crore.

    Mahanadi Coalfields achieves one-day record coal dispatch

    Mahanadi Coalfields is the only coal producing subsidiary of Coal India which has been able to register growth in sales and production during the current month in comparison to the previous corresponding period. While Coal India’s overall production dipped 5.7%, the subsidiary managed to clock a 7.7% growth in production.

    Jharkhand to get Rs 18,889 crore from coal mined by CIL in next 4 years: Government

    Of the nine blocks in Jharkhand put up for sale for commercial mining, the eastern state is likely to earn more than Rs 3,200 crore in one year as revenue and almost 50,000 additional jobs will be generated for the people of the state, Coal Minister Pralhad Joshi said.

    E-auction sales to sectors other than power registers three-fold rise

    During the quarter, the state-run miner sold about 20 million tonnes of coal through auctions including 6.66 million tonnes to sectors other than power. Average premium for segments other than power, however, dipped to 2% from 33%. In June, the company managed a 48% growth in total auction sales to 5.83 million tonnes.

    FIMI urges Centre to continue with present system of average sale price by IBM

    Miners' body FIMI has urged the Centre to continue with the present system of average sale price published by Indian Bureau of Mines (IBM) which it says is the most effective and transparent way to ensure price discovery and revenue to the exchequer.

    Western Coalfields offers to supply coal to power plants of Coal India’s other arms

    Many of its customers had shifted to mines that were further away as Western Coalfields’ output fell. However, with output rising again, it has made the offer under its ‘mine specific policy’, which charges a ‘small premium’ while power generators in central, west, or south India can make substantial savings on transport due to proximity to its mines.

    CII seeks clarification on computation of average sale price of auctioned mines by IBM

    CII seeks clarification on computation of average sale price of auctioned mines by IBM

    “On an average, additional amount to the extent of about 20% is being charged over and above the applicable charges on account of premium, royalty, district mineral foundations and national mineral exploration trust…this needs to be resolved at the earliest for smooth transition of all the auctioned mining leases post 31st March 2020,” said CII in the letter.

    Aluminium industry pegs 12-13% tax refund rate under new export scheme citing high burden of unrebated taxes

    Aluminium industry pegs 12-13% tax refund rate under new export scheme citing high burden of unrebated taxes

    The lobby group has urged the commerce and industry ministry for an initial 5% refund rate, subsequently going up to 12-13%, citing the high burden of unrebated taxes and duties, which are about 15% of production cost.

    Coal India gives hard-up power producers a much-needed breather on coal use

    Coal India gives hard-up power producers a much-needed breather on coal use

    In the past four years Coal India has held three long-term supply contract auctions for these generators in which plants with a total capacity of nearly 15,000 MW participated. Bidding was based on discounts offered by generators on their contracted power sale prices with distribution companies.

    ArcelorMittal India commences operations at Thakurani iron ore mine in Odisha

    ArcelorMittal India commences operations at Thakurani iron ore mine in Odisha

    "The block has annual production capacity of 5.5 million tonne, which can be scaled up to 8 million tonne and its mineral reserves are expected to increase once detailed exploration is complete," an official statement said.

    Coal Ministry withdraws Bander mine of Maharashtra from auction list of 41 coal blocks

    Coal Ministry withdraws Bander mine of Maharashtra from auction list of 41 coal blocks

    In the withdrawal notice dated July 21, the coal ministry said, "bidders may kindly note that Bander coal mine is now part of the Tadoba--Andhari Tiger Reserve as per the notification declaring the area as eco sensitive zone issued by the Ministry of Environment, Forests & Climate Change."

    HZL appoints its former CEO Akhilesh Joshi, ex-EY partner Anjani K Agrawal as directors

    HZL appoints its former CEO Akhilesh Joshi, ex-EY partner Anjani K Agrawal as directors

    Speaking on his appointment, Agrawal said, “Hindustan Zinc is amongst the most successful value-creation stories post-privatisation and has made significant progress over the years. I look forward to working with the board of directors, management team, and its young talent pool for sustainable development of the business for the benefit of all stakeholders."

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