While regretting the effectiveness of the regulatory system, Jairam Ramesh, Minister of State for Environment and Forests, told the Rajya Sabha on Monday that corporate majors Vedanta and Posco were being investigated for alleged violation of government guidelines. Replying to supplementaries during Question Hour, Mr. Ramesh said a four-member Expert Group, which is currently in Orissa, was looking into all cases of violations. “Once I get the report of this group, we...

Union Ministry of Environment and Forests is investigating alleged violation of forest laws by Vedanta Co and Korean steel maker Posco in Orissa, the Rajya Sabha was informed on Monday. Replying to supplementaries during Question Hour, Minister for Environment and Forests Jairam Ramesh said a four-member expert group is currently in Orissa looking at all cases of alleged violation by Vedanta Co. An iron ore mining project may comprise both forest and...

There's not much you can buy in terms of assets for Rs 1 lakh. But two Delhi businessmen gained access to a multi-crore iron ore mine in Chhattisgarh for just this much. On June 2, 2004, two brothers, Atul Jain and Sanjay Jain, pooled together Rs 1 lakh in Delhi to set up a company, Pushp Steel and Mines Ltd. The same day, the company applied for a prospecting licence...

Criticising the government’s Mining Bill, FICCI has said that the proposed legislation would adversely impact investments in the sector. It also termed the government’s scheme to provide shareholdings to tribals in mining projects as flawed. In a recent letter to Finance Minister Pranab Mukherjee, FICCI Secretary General Amit Mitra said that the proposed act will “adversely affect the industry”. “...the latest draft of the Mines and Minerals Development and Regulation Act 2010 proposes...

The Chhattisgarh government has opposed a new mining legislation, which stipulates licence allocation on a first-come-first-serve basis, stating that it is “dangerous for tribals” and would lead to loss of revenue for the State. Chhattisgarh Chief Minister Raman Singh, who participated in the meeting of the National Development Council last week, said he has raised the issue with Prime Minister Manmohan Singh as well. “We have opposed the new mining legislation and...