-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,”...

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   India's new mining Bill has provisions which seek, rightly, to shovel money from mining companies to rural people affected by mining, but the devil could lie in the detail. The proposal has three defects. One, it seeks differential treatment for coal and other minerals - Coal Miners would share 26% of their profits, while miners of other minerals would give additional royalty payments. Pray, why? Two, it exempts...

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...

-PTI   Dubbing union cabinet’s approval of the Mines Bill, 2011 as “too little and too late”, Orissa Chief Minister Naveen Patnaik today said it would not help poor people living in mineral rich areas. Mr. Patnaik’s reaction came shortly after the union cabinet approved the new Mines and Mineral Development and Regulation (MMDR) Bill, 2011. Stating that the new bill has provision for 26 per cent profit sharing on coal and an additional...