For non-coal firms, amount will be equivalent to their royalty The Union Cabinet on Friday approved the landmark Mines and Mineral Development and Regulation (MMDR) Bill, 2011 that provides for mining companies to keep aside 26 per cent of their net profits for a Mineral Development Fund to be used for the development and rehabilitation of project-affected people in tribal areas. For the non-coal companies, the amount will be equivalent to...

-The Hindu   ‘The mechanism for compensating the affected people is not clearly defined and has many limitations' Industry chambers led by Confederation of Indian Industry (CII) and FICCI on Friday sought a review of the Mines and Minerals (Development and Regulation) Bill, 2011 approved by the Union Cabinet stating that the industry was concerned on royalty, profit sharing and the methodology of providing assistance to project-affected persons. In a statement here, Rana Som,...

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...

-The Economic Times   While attention has been riveted on Illegal Mining in Karnataka and Andhra Pradesh, thanks to the Supreme Court-ordered probe into the activities of key players, environmental activists and political parties have now turned their gaze to Congresscontrolled Goa. The western coastal state, which has rich deposits of iron ore, has now turned alive with charges of a Rs 8,000-crore mining scam. Goa Chief Minister Digambar Kamat's role, which has...

Union Home Minister Palaniappan Chidambaram, lacking sportsman’s spirit, has stuck to his post like Dendrite paste, despite a series of failures in combating secessionist insurgencies including the armed offensive led by the Communist Party of India (Maoist). He parrots Prime Minister Manmohan Singh and considers Maoists to be “the most formidable challenge to governance.” “Only if villagers think that the real adversary is the Naxal who keeps them under threat will...