On September 18 an earthquake of the magnitude of 6.8 by the Richter scale struck Sikkim at about 6.18 pm The epicentre of the quake was located about 67 kms north-west of Gangtok—the State capital. The epicenter was located to be precise at Mangan, the headquarter, of the Sikkim North district. There were about four-to-five aftershocks of lesser intensity within five-to-six hours. Minor tremors were felt even after a few...

-The Times of India   The Mines and Minerals (Development & Regulation) Bill, cleared by the cabinet last week, signals that the government`s heart is in the right place. Under its provisions, coal firms must share 26% of their net profits with project area residents, while non-coal miners will have to provide them a sum equal to Royalty paid to state governments. No system is in place at present to properly compensate...

-The Deccan Chronicle   The approval by the Cabinet of the Mines and Minerals Development Regulation Bill is clearly meant to facilitate the acquisition of land in the mineral-rich districts of the country. Several large projects, including those of the richest non-resident Indian, Mr Lakshmi Mittal (Arcelor), and the South Korean giant Posco have been held up because of serious objections and protests from the affected tribal populations. The bill stresses on...

Majority of the PAC members decline to sign it The fate of the report of the Public Accounts Committee (PAC) of the Goa Assembly headed by the Leader of the Opposition Manohar Parrikar (BJP), which has reportedly indicted the government agencies and blamed the nexus of politicians in power and bureaucrats for illegal mining, will be decided by Speaker Pratapsinh Rane on Friday, the last day of the brief session of...

-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,”...