The Centre is planning to give a 26 per cent share in mining profits to tribal people and to set up a regulatory body to check illegal mining, Union Minister of Mines B.K. Handique informed the Rajya Sabha on Monday. The draft of the Mines and Minerals (Development and Regulation) Bill — prepared on the basis of the policy directions set forth in the 2008 National Mineral Policy and the recommendations...

A Group of Ministers (GoM) will discuss on Thursday issues pertaining to illegal mining, a ban on iron ore exports, the new mining legislation and setting aside a share in the profits of mining companies for the development of tribal areas. Officials of the Ministry of Mines said Minister B.K. Handique was pushing for the Ministry's proposal to make mining companies in tribal areas shell out a part of their equity,...

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...

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...