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A mining news blog providing industry professionals with real-time news and analysis, The blog covers regional news from different Mining regions in India and updates it’s readers with issues affecting Indian mining industry, created by Virginia Mining Resources

Showing posts with label mining news. Show all posts
Showing posts with label mining news. Show all posts
An Australian mining company operating on the West Coast began its litigation against environmental authorities in the Western Cape High Court on Monday and Tuesday, GroundUp reported.
The mining company, Mineral Sands Resources (Pty) Ltd (MSR), was accused of flouting environmental laws and of causing catastrophic environmental damage through its operations to mine mineral sands like zircon, ilmenite, rutile, magnetite and garnet at its Tormin mine. It is on the coast, 400km from Cape Town, near Lutzville.

The national Department of Environmental Affairs (DEA) and the Western Cape Department of Environmental Affairs and Development Planning were in turn criticised for “invading” the mining company’s rights.

They further deliberately suppressed information that should have been included in their joint application to a Vredendal magistrate for a search-and-seizure warrant in September 2016, relating to alleged environmental transgressions.

“To put it colloquially, it was clear that DEA was gunning for the applicant,” Peter Hodes, SC, for MSR, told Judge Owen Rogers.

He argued that the warrant was invalid for several reasons.

An affidavit by a senior DEA official used as part of the application for the warrant was simply “a verbal regurgitation of allegations set out in an anonymous complaint”.

Ron Paschke, for both departments, told the court that the mining company’s application was “an attempt to thwart the implementation of environmental laws”.

MSR violated environmental laws, express instructions to comply with those laws, and its own undertaking to comply with them.

“The applicant’s conduct resulted in substantial degradation of the environment,” Paschke charged.

Part of the dispute centres on a sea cliff directly in front of the Tormin mineral sands mine that disintegrated catastrophically in January 2015.

‘Failing for ages’

Complaints that Tormin’s unauthorised changes to its approved environmental management programme were responsible for the cliff collapse and other alleged environmental transgressions led the departments to conduct the search-and-seizure operation at Tormin.

Criminal charges were then laid.

MSR argues that both departments lack any legal jurisdiction to monitor and enforce compliance at Tormin because of the “One Environmental System” government introduced in December 2014.

This gives the Department of Mineral Resources (DMR) sole environmental authority over prospecting and mining.

Hodes pointed out that MSR had still not been formally charged. He said one of the relevant documents that should have been put before the magistrate was Tormin’s amended environmental management programme which the DMR approved in 2015.

Also, the “diametrically opposed” views of DMR and DEA about environmental authorisation at the mine should “surely” have been brought to the magistrate’s attention in the warrant application. They were however “suppressed so as not to create any doubt in the mind of the magistrate”.

The mining company accepted that the sea cliff had collapsed, but believed it had been failing “for ages”. No evidence had been put before the magistrate about whether mining was responsible for this collapse, Hodes said.

Legal distinction

Paschke said part of MSR’s review application was for a declaratory order to the effect that neither the national nor the Western Cape environment ministers and their departments had authority to perform compliance monitoring and enforcement in terms of the National Environmental Management Act (Nema), except for one specific part of this act.

“This seeks to create an exclusion zone where the environmental authorities will not be permitted to monitor compliance with and enforce environmental laws,” he argued.

Paschke argued that there was a legal distinction between an environmental management plan (EMP) approved in terms of the Mineral and Petroleum Resources Development Act – as MSR had obtained for Tormin – and environmental authorisation for “listed activities”. These included some aspects of mining, under Nema, that Tormin had not been granted.

Even after December 2014, when EMPs had started being approved in terms of Nema under the new system, this did still not equate to a Nema authorisation.

“That is a different species. An EMP by itself authorises nothing.”

Paschke apologised to Judge Rogers for the complicated legal argument.

“I’m sorry for the complexity of this. It’s a minefield, a labyrinth.”

The application continues on Wednesday.


(Source: News24.com, FEB 22, 2017)
Global miners, particularly Canadians, are showing increasing signs of optimism as commodity prices are on the rise, shallow growth is returning to different end markets, and most are in better cost positions than in the recent past, the annual “Tracking the Trends” report by Deloitte released Wednesday shows.

However challenges remain, and the industry is still likely to have to deal with cyber-security threats, technological disruption and environmental issues, it warns.

“It is critical that companies are aware that with technological and digital disruption occurring across all industries, comes accelerated threats to the mining industry,” notes Phil Hopwood, Deloitte’s Canadian and Global Mining Leader.

As in the past years, the consultancy firm outlines the top 10 challenges miners are likely to face, as well as the possible solutions to them, which can be summarized as:

  • Cyber attacks and other threats: Mining companies are subject to a wide range of risks, and with an evolving threat landscape, leaders must strengthen their cyber-security programs.
  • Unlocking productivity through innovation: Think beyond driverless trucks, sensors and advanced analytics to reduce cost, streamline equipment maintenance and prevent safety incidents. Today, new technology such as drones, real-time modeling and geo-coding are driving the next wave of productivity gains.
  • Digital revolution: Miners must figure out how to turn the potential benefits of digital thinking into reality.
  • Improving shareholder value: Optimizing portfolios, strengthening M&A processes, sustaining focus on cost and making long-term investments are key to improving this performance.

  • Creating healthy and inclusive workforces: Miners need to recognize that productivity goes beyond reducing costs and streamlining processes: mental health, wellness and diversity should also be considered and addressed.
  • Operating in an ecosystem: Companies will need to shift from a go-it-alone mentality, to one that recognizes the value of operating within an ecosystem.
  • Creating a shared vision for the sector: To foster a shared vision for the mining sector, companies and governments could benefit from finding a middle ground that aligns interests and enhances cooperation when it comes to regulations.
  • Re-earning the social license to operate: Winning a social license to operate is especially difficult for miners in light of a number of recent, catastrophic mining accidents and as communities continue to raise concerns about the industry’s impact on the environment. By lessening their environmental footprint, miners can foster the community trust needed to regain their social license to operate.
  • Supporting strategic priorities: Industry leaders now understand the importance of adopting operating models that can help them respond to challenges and market volatility. Companies that took steps to strengthen their balance sheets in the latest round of cost take-outs are now considering how to align their operating models against these choices.
  • Adopting an integrated approach to reporting: With governments demanding greater levels of transparency, the sector is working to strengthen compliance and disclosure practices. By standardizing information, considering the benefits of over-reporting and reviewing IT systems to ensure consistent data measurement and reporting capabilities, companies can adapt to a steep change in the reporting environment. 

No “one-fit-all” solution
Unlike in previous versions of Deloitte’s report, this year’s includes a wide range of case studies and sector-tailored recommendations.

“Companies that mine iron ore or thermal coal, for instance, have an entirely different outlook than those heavily weighted in precious metals,” the study acknowledges. “Diversified miners face different challenges than companies with a niche commodity focus. Major producers are planning for a very different future than the one that appears on the horizon of most junior explorers,” it notes.

However, the analysts conclude that while mining companies’ approaches to the future will (and should) differ, all of them need to be looking for the answer to one common question: “Going forward, where should we play and how can we win?”

The full “Tracking the Trends” report is available here.

(Source: Mining.com, February  02, 2017)
China, the world’s largest coal consumer, has decided to halt new coal mines approval for the next three years while it continues cutting output at existing operations, in a new effort to shrink both oversupply and a worsening pollution crisis.
Beijing will shut more than 1,000 coal mines next year, taking out 60 million metric tons of unneeded capacity
As part of the tough rules implemented by the national energy regulator, Beijing will shut more than 1,000 coal mines next year, taking out 60 million metric tons of unneeded capacity, state-run agency Xinhua News reported.
China's chronic air pollution generally gets worse in winter, when power consumption —much of it fuelled by coal — rises along with demand for heating. Earlier this month, capital Beijing issued its first-ever red alert for pollution. Poisonous air quality prompted the government to close schools, force motorists off the road and shut down factories for more than 72 hours.
The government has also readjusted its targeted energy mix for 2016. Under the new blueprint, non-fossil fuels will make up 13.2% of the country's energy, an increase from 12% this year. The ratio of natural gas will also increase to 6.2% from 6% while coal usage will be reduced to 62.6% from around 64.4% this year.
For the next five years, the Chinese government also aims to add over 20 million kilowatts of installed wind power and more than 15 million kilowatts of installed photovoltaic power.
(Source: Mining.com)
We have issued an updated research report on the premium industrial metals & minerals company Vale S.A. VALE on Dec 28, 2015. Incepted in 1942, the company is currently regarded as the largest exporter as well as importer of iron ore and pellets in the global mining market. Over time, the firm has managed to significantly improve the scale of its business through tactical strategies. However, of late, Vale’s affairs are faced with certain risks stemming from external headwinds.

Scopes for Improvement

Vale is improving its business on the back of productivity enhancement strategies, specialized cost-saving plans and organic growth projects. In the upcoming quarters, the company anticipates to lower its absolute debt with efficient disinvestment programs and tactful capital-deployment strategies. Moreover, increasing industrialization in the contemporary economies is expected to enhance demand for industrial raw materials offered by Vale.
Problems to Consider
Weak iron ore price continues to hurt Vale’s aggregate revenue and margins. Moreover, the company’s business remains highly sensitive to the current economic uncertainties and market headwinds. Also, Vale’s business depends on licenses and permits issued by the government, and hence, any change in governmental policies might lead to termination or suspension of licenses. Such circumstances adversely affect the company’s growth or productivity plans, thereby directly affecting its revenues and margins.




Baltic Report Date: 24 DECEMBER 2015

BDI  Baltic Exchange Dry Index                                 478 +3
BCI  Baltic Exchange Capesize Index(basis 180000 dwt vsl)      470 +1
BPI  Baltic Exchange Panamax Index                             462 +5 
BSI  Baltic Exchange Supramax Index                            450 0
BHSI Baltic Exchange Handysize Index                           270 0

+
Bunker Prices 28-12-2015(*)                    
                             
          IFO380          IFO180          MDO        MGO 
Singapore  166.00          177.50          332.00     345.00    
Rotterdam  139.00          170.50          -         308.00    
Houston    139.00          199.00          -         360.00    
Fujairah   166.50          212.50          -         597.00    
New York   175.50          242.50          -         351.50                                                                                                                                                                                                                                                    
*courtesy bunkerworld.com

++

Baltic Exchange Capesize Index

Route   Description                                         Value($) Change
C2     160000lt Tubarao to Rotterdam(long tons)              4.078    -0.028
C3     160000 or 170000mt Tubarao to Qingdao                 6.583    -0.100
C4     150000mt Richards Bay to Rotterdam                    3.306    -0.064
C5     160000 or 170000mt W Australia to Qingdao             2.925    -0.002
C7     150000mt Bolivar to Rotterdam                         5.217    +0.037
C15    160000mt Richards Bay to Fangcheng                    4.500    -0.086
C8_14  180000mt Gibraltar/Hamburg transatlantic r/v           7706    +146
C9_14  180000mt Continent/Mediterranean trip China-Jpn       12250    +65
C10_14 180000mt China-Japan transpacific r/v                  2610    +137
C14    180000mt China-Brazil round voyage                     4405    -45
C16    180000mt Revised backhaul                             -1975    0

Weighted Time Charter Average(C8_14,C9_14,C10_14,C14 & C16)   4965    +68

The following route does not contribute to the BCI
C17    170000mt Saldanha Bay to Qingdao                      4.661    -0.004

BCI 4TC - 172,000 4TC average                                 4028    +87

+

Baltic Exchange Panamax Index

Route   Description                                         Value($) Change
P1A_03 74000mt Skaw-Gibraltar, transatlantic r/v              3540    +20
P2A_03 74000mt Skaw-Gibraltar trip to Taiwan-Jpn              7582    +155
P3A_03 74000mt Japan-S.Korea transpacific r/v                 3151   -15
P4_03  74000mt Japan-S.Korea trip to Skaw-Passero              493    +4

Weighted Time Charter Average(P1A_03,P2A_03,P3A_03 & P4_03)   3692    +41

(The following route does not contribute to the BPI)
P3A-IV  74000mt Newcastle to Qingdao - implied voyage         5.83    -0.03

+

Baltic Exchange Supramax Index

Route   Description                                          Value($) Change
S1A  52454 Antwerp - Skaw trip to Singapore-Japan              7192    0
S1B  52454 Canakkale trip to Singapore-Japan                   6129    0
S2   52454 S.Korea-Jpn,one Austral. or Pacific r/v             4942    -18
S3   52454 S.Korea-Jpn trip to Skaw-Gibraltar                  2990    -10
S4A  52454 US Gulf trip to Skaw-Passero                        6806    +43
S4B  52454 Skaw-Passero trip to US Gulf                        1636    +7

Weighted Time Charter Average(S1A,S1B,S2,S3,S4A & S4B)         4703    -1

Baltic Exchange Supramax - Asia
S8   52454 S.China trip via Indonesia to EC India              5022   -42
S10  52454 S.China via Indo to S.China                         3703   -29
S11  52454 Mid China, Australian or transpacific rv            4389   -24

Weighted Time Charter Average(S8,S10 & S11)                    4371   -32

The routes below do not form part of the index calculation
S5   52454 WAfr trip via ECSA to N.China                       4583   -25
S9   52454 WAfr trip via ECSA to Skaw-Passero                  3275    -3

Baltic Exchange Supramax 58
S1B_58 58328 Canakkale trip via Med or BlSea to China-S.Korea  6729   +29
S1C_58 58328 USG trip to China-S.Japan                         9561   +73
S2_58  58328 N.China one Australian or Pacific r/v             5264   -24
S3_58  58328 N.China trip to W.Africa                          3275   -13
S4A_58 58328 USG trip to Skaw-Passero                          7515    +9
S4B_58 58328 Skaw-Passero trip to USG                          1930    -3
S5_58  58328 W.Africa trip via ECSA to N.China                 5258   +15
S8_58  58328 S.China trip via Indonesia to ECI                 5741   -27
S9_58  58328 W.Africa trip via ECSA to Skaw-Passero            3950   -1
S10_58 58328 S.China trip via Indonesia to S.China             3975   -39

Time Charter Average                                           4933   -9

Baltic Exchange Supramax 58 - Asia
S8_58  58328 S.China trip via Indonesia to EC India            5741   -27
S10_58 58328 S.China via Indo to S.China                       3975   -39
S11_58 58328 Mid China, Australian or transpacific rv          4843   -29

Time Charter Average                                           4853   -32

+

Baltic Exchange Handysize Index

Route   Description                                         Value($)  Change
HS1 28000 Skaw-Passero trip to Rio de Janeiro-Recalada        2720    -7
HS2 28000 Skaw-Passero trip to Boston-Galveston               3142    -6
HS3 28000 Rio de Janeiro-Recalada trip to Skaw-Passero        4178    0
HS4 28000 USG trip via USG or NCSA to Skaw-Passero            4932    +25
HS5 28000 SE Asia trip via Australia to Spore-Japan           3814    -15
HS6 28000 SKorea-Japan via NOPAC to Spore-Japan               4521    +8

Weighted Time Charter Average(HS1,HS2,HS3,HS4,HS5 & HS6)      3955    -1

+++


TIMECHARTER

CAPE

'Alpha Dignity' 2011 176296 dwt dely CJK 04/06 Jan trip via WC Canada redel Singapore-Japan $3,200 daily - cnr

KAMSARMAX

'Rosco Palm' 2011 82153 dwt dely Machong prompt trip via Australia redel EC India $3,000 daily - cnr

PANAMAX

'Great Victory' 2010 79933 dwt dely CJK 23/27 Dec trip via Australia redel Singapore-Japan $3,750 daily - Bunge
'Draftslayer' 2014 66622 dwt dely Recalada 03/10 Jan trip redel SE Asia $9,000 daily + $100,000 bb - Hyundai Glovis

SUPRAMAX

'Nikolaos A' 2009 58133 dwt dely US Gulf 02 Jan trip redel Singapore-Japan $11,000 daily - cnr

PERIOD

'Meteor' 2010 82589 dwt dely Gangavaram end Dec / ely Jan 4-7 months trading redel worldwide $5,250 daily - Starboard

VOYAGES

ORE

'TBN' 170000/10 Tubarao/Qingdao 15/30 Jan $6.45 fio 3 days shinc/30000shinc - Vale - <vessel is 250,000 dwt - fixed 22/12>
'Deep Blue' Cargill relet 2015 150000/10 Acu/Qingdao 04/15 Jan $8.35 fio scale/30000shinc - Oldendorff
'Panocean TBN' 170000/10 Dampier/Qingdao 12/16 Jan $2.85 fio scale/30000shinc - Rio Tinto
'TBN' 170000/10 Saldanha Bay/Qingdao 11/14 Jan $4.45 fio scale/30000shinc - Anglo American
'Anglo American TBN' 170000/10 Saldanha Bay/Qingdao 17/23 Jan $4.58 fio basis 1.25% total scale/30000shinc - Ore & Metals
'TBN' 170000/10 Dampier/Qingdao 12/16 Jan $2.85 fio scale/30000shinc - Rio Tinto
'TBN' 170000/10 W Australia/Qingdao 05/14 Jan $3.00 fio scale/30000shinc - Bao-NYK - <recent>

COAL

'TBN' 160000/10 Dalrymple Bay/Qingdao 20/25 Jan $3.30 fio 50000shinc/25000shinc - Pacific Bulk
'Bluebell' Korea Line relet 1996 150000/10 Vanino/Youngheung 01/10 Jan $1.97 fio 30000shinc/25000shinc – KEPCO

GRAIN

'TBN' 30000/5 wheat Rouen/Algeria ely Jan $11.00 fio 15000shex /2500shex - cnr

(Source: Baltic Dry Index, December 2015)

+++
NITI Aayog’s vice-chairman Mr. Arvind Panagariya on Friday exuded confidence that India could be an $8-trillion economy within next 15 years or even less if it continues with growth-enabling policies.

"The prospects for our economy to become the third largest one in the world in less than 15 years are excellent today," Mr. Panagariya said while delivering the 6th R.K. Talwar memorial lecture on 'Growth, Poverty and Economic Trans-formation', organized by the Indian Institute of Banking & Finance.

Mr. Raj Kumar Talwar was one of the most successful Chairmen of the SBI. He led the bank from 1969 to 1976.

The World Bank and the IMF as well as many analysts have predicted that the country would become the third largest economy after China and the US with a GDP of $10 trillion by 2030.

"Our savings rate remains nearly 30 percent of the GDP and has prospects to rise above 35 percent, a level reached in 2007-08. We have a young population so that labor shortages will not be an impediment to growth," Mr. Panagariya said, adding our very low per-capita income leaves us far away from the global technology frontier.

Describing the late Mr. Talwar as "the rarest of rare officers that we have ever produced," he said the late banker was so "spotless in his personal and professional life that even an all-powerful Emergency-era government, determined to remove him from office for refusing to do its unjust bidding, could not muster enough courage to do so.

"Even after a CBI inquiry and a legislative amendment later, the then government could only bring itself to asking Mr. Talwar to take a leave of absence for the last 13 months of his tenure," he recalled.

Stating that only the higher growth can lead to poverty reduction, he said during the first three decades, the economy grew at a snail's pace with per-capita income rising just 50 percent by 1980-81. In the following decade, there was some acceleration with another 50 percent added to the original per-capita income by 1990-91.

The 1990s saw further acceleration, adding full 100 percent over the 1950-51 income. The fastest gain came in the new millennium, however, with full 300 percent added to the original per-capita income. Movements in poverty mirrored these movements in per-capita income, he said.

With extremely low initial per-capita income, slow growth meant that per-capita income remained low and no perceptible assault on poverty could be done, he argued.

"Once growth picked up, however, per-capita income rose and poverty too began to recede. The sharper the rise in incomes the sharper was the decline in poverty.

Poverty fell more sharply in rural areas thereby partially bridging the gap in poverty between the two regions. The association between growth and decline in poverty is unmistakable," he con-cluded.

(Source – Assorted with the Inputs from PTI)

www.virginiamr.in
India's economic landscape is expected to undergo a major transformation over the next decade and is likely to achieve an average growth rate of around 8.8 percent, a Dun & Bradstreet report says.

According to the report, this increase in growth rate would culminate into high per capita income over the years.

"We believe India has the potential to achieve a higher growth rate, given its domestic fundamentals, D&B said in a report titled 'Manufacturing India 2025' which outlines the country's growth journey during the next decade. We expect India to realize its potential and achieve an average growth rate of around 8.8 percent during the next decade," it said adding that with this, India's nominal GDP is expected to touch $3.4 trillion by 2019-20 fiscal and further to around $7.0 trillion by 2024-25 fiscal.
The report, however, cautioned that in case of a delay or failure to implement key policy reforms, nominal GDP might reach to $6.2 trillion by 2024-25.

The new mode of governance, a pro-business policy framework, improved business environment through simplifying processes, focus towards decentralized planning and greater empowerment of states, the demographic dividend and the rise of the middle class have enabled India to emerge as one of the global economic powers on the world map, the report said.

The report further said while services sector would continue to drive India's growth momentum, the industrial sector is expected to witness double-digit growth.

Along with 'Make in India' Programme, other initiatives such as Digital India, developing Smart Cities and urbanization if implemented conscientiously will change the dynamics of Indian economy in next decade, Dun & Bradstreet India Senior Economist Mr. Arun Singh said.

The report further said the goal of raising the share of manufacturing to 25 percent of GDP would require conducive business environment, investment to support innovation, capital and labor efficiency amongst other measures.

Besides improvement in industrial and ICT infrastructure, strong supply chain and competitive infrastructure, focus on health and skill development are required which will not only support industrial development but also other segments of the economy, it added.

(Source – Assorted with the Inputs from PTI)

for more live update you can visit wwwVirginiamr.in
As much as Rs. 40,000 crores could be saved by promoting cargo transportation by enhancing coastal shipping in 10 years under the ambitious Sagarmala project, a
port-led development scheme, as per government estimates.

Sagarmala is an ambitious project to promote port-led direct and indirect development of coastal states and to provide infrastructure for transporting goods via ports quickly, efficiently and cost-effectively.

"Higher coastal shipment of coal by 100 million tonnes per annum (MTPA) and higher coastal shipment of other commodities (cement, steel, fertilizer, food grains, POL) by 50 MTPA" alone could result in savings to the tune of Rs. 11,500 crores by 2025, an official document on Sagarmala has said.

Building of new coastal capacities for 120 MTPA steel and cement in southern Gujarat, Central Andhra Pradesh, northern Karnataka, Odisha and northern Andhra Pradesh would result in savings of another Rs. 8,500 crores, it said.

According to the document, another Rs. 12,500 crores could be saved in the next ten years by reducing time to export container by 5 days through customs efficiency and last mile connectivity by building dedicated road corridors.

Apart from these, the government plans saving Rs. 7,500 crores by increasing "share of railways in modal mix from current 18 percent to 25 percent, creating "transshipment hub at Southern tip" and building "three new container ports" at Vadhavan, central Andhra Pradesh and Sagar. It said these will reduce the cost to export by Rs. 3,000 per container.

The government last month has announced to spend Rs. 70,000 crores on development of major ports only which have received 104 suggestions from international consultants to increase efficiency.

Once implemented, this will result in cargo traffic increasing three-fold while the ports will also go under performance audit.

Last month, Road Transport and Highways Minister Mr. Nitin Gadkari has said, "Mahanadi Coalfields Ltd in Odisha is expanding its output capacity to 260 million tonnes from the present 60 million tonnes and if the coal is transported through water, this will save Rs. 7,000 crores annually."

He has said two ports - Kandla and Paradip - were being developed into Green smart cities and the government is eyeing at Rs. 4,500 crores profit from ports this fiscal.

Mr. Gadkari has said the Prime Minister's emphasis is on "cooperative federalism" and Chief Ministers of states like Andhra Pradesh, Goa, Tamil Nadu, Karnataka, Maharashtra, Gujarat and Odisha, who attended the first meeting of Sagarmala had come out with many good proposals.

He has said 13 states and union territories were involved in Sagarmala initiative which will be implemented across India's 7,500 kms coastline.

In March, the Cabinet had given 'inprinciple' nod to the project, aimed at port-led development in coastal states.

(Source – Assorted with the Inputs from PTI)

for more update you can visit  our Website....www.VirginiaMR.com

Last Week Top Headlines of Power Sector....

  • The 4,000 MW Tilaiya ultra mega power project (UMPP) in Jharkhand, abandoned by Reliance Power, is likely to be auctioned afresh as most of its consumers want to avoid litigation. In the meeting held last Tuesday, the procurers of Tilaiya UMPP generally appreciated that paying the Rs 125 crore compensation as per the contract will be the best solution in the interest of the project as legal recourse will only delay it. After paying off the company, the procurers can re-bid the plant.

  • Construction of two 700-MW nuclear power units at the Rajasthan Atomic Power Station (RAPS) is progressing fast and preparatory work to install the coolant channels was on. Welding of end shield and calandria is over. Preparation work for core components - coolant channels - has started. It will take six months to complete.

  • National Green Tribunal (NGT) has issued notices to NTPC and Bridge and Roof Company (India) Ltd for alleged illegal excavation of sand for construction of 1,600 MW thermal power station at Gardarwara in Narsinghpur district of Madhya Pradesh.

  • The tariff for electricity generated by the Kudankulam NPP will remain at the level set by the Indian Government in 2010 – 2011, with no hikes, Russian State Atomic Energy Corporation "Rosatom" has said.

  • The Mahanadi Coalfields Ltd (MCL) would set up a 1,600-MW super critical thermal power plant with a total capital investment of Rs 11,363.18 crore at Basundhara in Sundargarh district.

  • NTPC will invest over Rs.5,000 crore on expansion of Simhadri Super Thermal Power Station near Parawada. The district administration has been approached for allotment of site required for the Brownfield project.

  • Solar manufacturer and solutions provider Waaree Energies Ltd commissioned a 27.5-mw DC solar power plant for Roha Dyechem Pvt Ltd at Bhadla solar park in Rajasthan.

  • The central government will bail out close to 21,400 MW of power plants by assuring coal linkage through new fuel supply agreements (FSAs). These plants comprise the power projects whose commissioning date was delayed due to several reasons, including fuel supply crunch. Of this, 2,415 Mw would get tapering linkage and rest would be long-term linkage.

  • Odisha state government hopes to bag the Baitarani West coal block soon for its PSU, Odisha Thermal Power Corporation (OTPCL), a 50:50 joint venture between Odisha Mining Corporation (OMC) and Odisha Hydro Power Corporation (OHPC).

  • The government is likely to allow companies to divert coal supply to efficient power plants from inefficient plants to generate more electricity with the available fuel.

  • Coal imports dropped by 27.16 per cent to 12.6 million tonnes (MT) last month from a year-ago period on the back of rise in domestic production.

  • The Coal Ministry has made a one-time exception to allow captive power plants to participate in the e-auction for coal by Coal India.

  • In light of there being sufficient coal stocks at thermal power plants across India, producer Coal India Limited (CIL) has been granted greater flexibility in offering higher volumes for sale through e-auction.

  • Relaxing earlier restrictions, an expert panel of the environment ministry has recommended a two-fold increase in the ash content of imported coal from 12% to 25%, giving in to demands of the Association of Power Producers (APP), who are highly dependant on the imported fossil fuel.

  • Of the two key power transmission projects put up for tariff-based competitive bidding (TBCB), state-owned Power Grid Corporation of India (PGCIL) won the Rs 7,032-crore Vemagiri-II transmission project, one of the costliest projects to come under the bidding route this year.

  • Of the two key power transmission projects put up for tariff-based competitive bidding (TBCB), Kalpataru Power Transmission bagged the second project — the Rs 2,240-crore Bhutan inter-link. The project, based in West Bengal, would help in evacuation of power from upcoming hydro projects in Bhutan.

  • Renewable energy firm Gamesa has bagged a 100-MW wind power project from Hero Group to set up 50 wind turbines in Madhya Pradesh.

Virginia Mining Resources would be closely tracking the developments on the subject and other events in the mining & resource sector and bringing you the same.