-The Economic Times India's new mining Bill has provisions which seek, rightly, to shovel money from mining companies to rural people affected by mining, but the devil could lie in the detail. The proposal has three defects. One, it seeks differential treatment for coal and other minerals - coal miners would share 26% of their Profits, while miners of other minerals would give additional royalty payments. Pray, why? Two, it exempts...
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Mining companies to take a hit of Rs 15,000 cr
-The Business Standard Mining companies have warned of a price spiral in commodities once the new mining law provisions are in place. The industry sees the government decision of mandatory profit and royalty sharing impacting it by an estimated Rs 15,000 crore every year. This would include a Rs 12,200-crore hit on non-coal mining companies and Rs 2,800 crore on coal miners. “The provisions of this Bill will affect the industry badly,”...
More »New Mining Bill aims at equity, transparency by Sujay Mehdudia
The Mines and Mineral Development and Regulation (MMDR) Bill, 2011 approved by the Union Cabinet on Friday aims to ensure transparency, equity, elimination of discretion, effective redress and regulatory mechanisms along with incentives encouraging good mining practices, which will lead to technology absorption and exploitation of deep seated minerals. The menace of illegal mining in Karnataka and Goa continues unabated despite strong outrage against it. As many as 82,000 cases were...
More »New mining law to give Rs 10,000 crore to 60 tribal districts
-The Times of India The Union Cabinet is set to approve a new law that will provide more rights to tribals in commencement and end of mining activity besides providing Rs 10,000 crore annually to 60 tribal-dominated districts. The bill for the new mining law and the repeal of the Mines and Minerals (Development and Regulation) Act, 1957 is on the agenda for the Cabinet meeting scheduled for Friday. The bill, expected...
More »Workers' struggle in Maruti Suzuki by Prasenjit Bose and Sourindra Ghosh
The multinational refuses to be sensitive to the grievances of its Indian workforce, which generates the greater proportion of the company's Profits. The workers of the Maruti Suzuki India Limited's (MSIL) plant in Haryana's Manesar have been agitating since August-end against the dismissal and suspension of more than 60 of their colleagues and the management's insistence on their signing a ‘good conduct bond' before they are allowed to enter the plant....
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