Speed up process for mineral body
Mines Secretary Anup Pujari has asked States to expeditiously draw up notifications for the setting up of the non-profit trusts known as District Mineral Foundations, as provided in the Mines and Minerals (Development and Regulation) Amendment Act, 2015. In a consultation held on Wednesday, Pujari urged States to decide on the composition and function of the DMF and make them functional. He also discussed the preparedness of the States for notification of the mineral blocks to be put up for auctions once the Draft Mineral (Auction) Rules, 2015, were finalised and notified
Urea imports surge 23 pc in FY15
UREA imports surged 23 per cent to 87.49 lakh tonnes in FY15 backed by higher demand, official data indicated.
India is one of the world’s top three consumers of urea, with imports recorded at 70.88 lakh tonnes in FY14. At present, around 22 million tonnes (mt) of urea is produced domestically, as against the annual domestic demand of 30 mt.
Urea imports had dipped 12 per cent to 7.08 mt in FY14 due to carry-over stocks from the previous year when 8.04 mt had been imported in total.
Indian yards to demolish vessels to increase scrapped metal supply
Indian yards will demolish a number of vessels as it needs to increase supply of scrapped metal for the country’s infrastructure development programmes.
The shipping market is weak and it is wise to replace older and inefficient vessels, said delegates at SeaAsia, a three-day conference and exhibition held at April 21-23 in Singapore.
Indian yards are likely to scrap much higher number vessels than about 350 scrapped in 2014,” said Zafer Gungor, ship repair and conversion manager at Sefine Shipyard which is building five new ships this year.
India will benefit from the large volume of ship demolition as it needs to increase supply of scrapped metal for melting into steel and meet massive demand for iron and steel products from the infrastructure development programmes announced by the government.
Comparatively, Turkish yards are expected to demolish about 500 ships, but most of these would be of smaller sizes with lower deadweight tonnage, Zafer said.
Shipbreaking yards at Alan, in Gujarat, have already demolished or were demolishing 107 ships in the first four months of this year, according to Deven Jagad, proprietor of the Bhavnagar-based Mahadev Corporation Shipping and Marine Supplier which markets second hand ship machinery.
Ship demolition at Alan yards more than doubled in 2014 from 150 in 2010, added Aarchi Marine Services’ Tarik Wala, who also markets reconditioned ship machineries at Bhavnagar.
We expect Alan yards to break 330-350 ships this year,” Jagan,” said Jagan.
But outsiders are putting the number higher, given ship-owners urgency to reduce the number of idle floaters for cost reasons.
Ship-owners and managers agreed with the high level of ships being put out of services due to gloomy demand and the ongoing slide in chartering and cargo rates.
In the past, China had topped the list of ship-breakers, as it was then to build scrap capacity for developing infrastructure prior to the 2008 Olympics in Beijing.
But now the Chinese are not that aggressive in sourcing vessels for breaking as they have excessive supply of steel from domestic mills.
Power consumers to save Rs 69,311 crore due to negative coal block bids
Electricity consumers in the country are likely to benefit by about Rs 69,311 crore from a reduction in power tariffs following negative bidding for coal blocks, the power ministry said in a statement.
Of the 204 coal blocks cancelled by the Supreme Court, the government has so far auctioned and allotted 67 mines and blocks. The revenue likely to be generated from the auction and the allotment of these mines and blocks is about Rs 3.35 lakh crore.
In negative bidding, power producers seeking to win captive coal blocks forgo their right to pass on mining costs to consumers and instead agree to pay the government.
The government has allotted 20 blocks in Jharkhand, 14 in Chhattisgarh, 11 in West Bengal, nine in Maharashtra, seven in Odisha, five in Madhya Pradesh, and one in Telangana.
At the next auction in May, 11 blocks will be offered for the power sector and five for the non-power sector. The level of readiness of end-use plants for this auction will be less than in the previous round, although the percentage has not been decided, according to coal ministry officials. The auctioned blocks are likely to produce 500 million tonnes of coal by 2020, when Coal India’s output is expected to touch 1 billion tonnes, they said.
Coal India’s board of directors has cleared ..
This post was written by Atlantic Admin