After sliding a mile backward into a morass, Karnataka'smining sector has just been shoved a metre forward. Since it has taken an almighty effort by the judiciary and a quasi-judicial body, the Lokayukta, to accomplish even this much, what hope is there for a sector that is vital for Karnataka's and India'sindustrial development?? Will the sector - represented by mining firms, traders, transporters, government agencies - slide back deep into...
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26% profit sharing to help increase production: Coal India
-The Business Standard Allaying miners' apprehensions, Coal India today said the 26% profit sharing clause in the proposed Mines and Minerals (Development and Regulation) Act will help mining firms ensure more production. "The proposal had some impact on the stocks. But, people have now realised that with this, land availability will go up and with that, production," Coal India Chairman NC Jha said. Coal India, the country's largest coal miner, is expected...
More »‘We’ll take the burden for employees for some time, but how long?’ by P Vaidyanathan Iyer
RV Gumaste, a member of Kirloskar’s project team that set up Bellary’s first iron-making unit in 1994, has never seen such times since he first moved base from Pune 17 years ago. “We will take the burden for our regular employees for some time. But how long?” says the industry veteran, who was appointed Managing Director of Kirloskar Ferrous Industries Ltd in July 2003. The Rs 1,100-crore company has 800...
More »The Karnataka mining report by Vicky Nanjappa
The report on illegal mining in Karnataka, compiled by Lokayukta Santosh Hegde and his team, may spell the end of the first Bharatiya Janata Party government in south India. While the report is voluminous, here are a few details of what the Lokayukta and his team have found while probing the illegal mining scam. In the report the Lokayukta clearly makes charges against Chief Minister B S Yeddyurappa and Minister for...
More »SC suspends mining activity in Bellary
-PTI The Supreme Court has suspended with immediate effect the mining of iron ore in 10,868 hectares in Bellary district of Karnataka. "We are of the view that the mining of iron ore in Bellary be suspended immediately till further orders," a special bench headed by Chief Justice S H Kadia said. The court said the ministry of environment and forest (MoEF) will, meanwhile, come out with an interim report on the...
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