Jairam Ramesh, India's environment minister, will make a decision in the next week that could define the future of the country: whether to approve a $12 billion South Korean-owned steel plant, the largest potential foreign direct investment ever on the subcontinent. The plant, proposed by South Korea's Posco, has been in the works for years. It already has been cleared by the Environment Ministry, which Mr. Ramesh runs, and endorsed by...
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Posco India has to comply with CWPRS report: Orissa
Posco India would have to incorporate the suggestions made by the Pune-based Central Water & Power Research Station (CWPRS) in the detailed project report (DPR) for the captive port proposed to be set up at Jatadhari Muhan in Jagatsighpur district. "In 2006, the CWPRS had made a technical study on the impact of the Posco port on the possible threat to the operations of the Paradeep port in 2006 following the...
More »Tribals win share of mineral wealth by SPS Pannu
Faced with a massive public outcry and fierce opposition from tribals, the government has, in a landmark move, decided to give tribals and other affected populations a share of the profits made from exploiting mineral resources from their land. The Group of Ministers (GoM) headed by finance minister Pranab Mukherjee on Friday finalised the contours of the draft for a new mining bill, which makes it mandatory for mining companies to...
More »Mining firms must share 26% profits: GoM by Prasad Nichenametla
Despite objections from the coal ministry and concerns of the Planning Commission, a GoM under finance minister Pranab Mukherjee - discussing the new Mines and Mineral (regulation and development) Act 2010 - approved the proposal of sharing 26% net annual profits from the mining activity with displaced locals. The Bill replacing a 53-year-old law can be introduced in the ongoing session, minister for mines BK Handique said after the GoM meet...
More »Lavasa petition hearing adjourned
The Bombay High Court on Friday adjourned the hearing of a petition filed by the Lavasa Corporation against the status quo and show-cause notice issued by the Ministry of Environment and Forests. It, however, did not vacate the stay on resumption of construction activities. The matter was adjourned till December 6. Meanwhile, the National Alliance of People's Movement (NAPM) has appealed to the court that their petition be clubbed in the...
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