The $12 billion Posco investment in India was supposed to be the biggest FDI project in the country. After six years that still remains on paper Horangineun jugeumyeon gajugeul namgigo, Sarameun jugeumyun ireumeul namginda (When tigers die, they leave behind leather. When people die, they leave their names behind) —Old Korean Proverb The news flash from Press Trust of India came on July 10, 2011. Posco, the $32 billion South Korean steel giant had decided to...

Illegal iron ore mining involving hundreds of Indian officials and powerful politicians has devastated local communities in the southern state of Karnataka and cost its treasury more than $3.5 billion in revenue, according to a scathing report by an official anticorruption panel that was released on Wednesday. “In the illegal mining and irregularities committed in the export of iron ore, we have found the involvement of some 100 mining companies,...

Bellary is only the tip of the rotting earthmound. Can a new proposed legislation clear the air? Two years ago, when the ministry of mines decided to use satellite imaging to survey projects, it unearthed several “unusual activities” across the country. “The amount of mining done and material being exported didn’t match in areas where certain companies had been given licences,” recounts a former senior bureaucrat with the mines ministry....

-The Economic Times   The Supreme Court on Friday refused to ease its three-month old ban on the manufacture, sale and use of pesticide endosulfan despite an expert committee report favouring lifting the restrictions for all states except the worst-affected Kerala and Karnataka. However, a bench of Chief Justice S H Kapadia and Justices K S Radhakrishnan and Swatanter Kumar agreed to consider the industry's request for permission to export the...

Orders Environment Impact Assessment study in the area The Supreme Court, which earlier suspended mining operations in the Bellary area, on Friday partially lifted the ban and allowed the public sector National Mineral Development Corporation to undertake mining in two leases to cater for the domestic market. The Forest Bench of Chief Justice S.H. Kapadia and Justices Aftab Alam and Swatanter Kumar, however, rejected the plea by a private miners' association that...