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Time of India
25-05-2025
- Business
- Time of India
Mining ops at 40 low-grade ore dumps to resume soon
Panaji: State govt is in the process of resuming operations at around 40 low-grade iron ore dumps located in different areas. It is also in process of auctioning over 20 low-grade dumps besides directly allotting over 16 dumps to former leaseholders. The state has set a target of exporting 25 million tonnes of low-grade iron ore. ' E-auction of dumps will begin soon. We are in the process of identifying more dumps for auction besides the 18 dumps which were already put up for auction. We have received 15 applications from erstwhile leaseholders to handle low-grade iron ore which is outside the mining lease,' director of mines and geology (DMG) Narayan Gad told TOI. Govt postponed the auction of 18 low-grade iron ore dumps to Jan 30. It was supposed to take place in four phases. Initially, the auction was scheduled to be held from Jan 22 to 25. In all, govt received 125 bids for the 18 dumps. A total of 173 mining companies and traders showed interest. A reserve price of 22% for the first e-auction of low-grade iron ore dumps was fixed. In case the Indian Bureau of Mines price is Rs 100 per tonne for low-grade iron ore and the mining companies purchase the ore at auction at the 22% reserve price, the companies must pay Rs 22 per tonne to govt. Govt also fixed criteria for traders and mining companies to participate in the e-auction — the bidders should have a minimum net worth of Rs 25 crore. Govt put up the 18 low-grade ore dumps with a total quantity of around 30 million tonnes for auction. The Supreme Court allowed Goa govt to conduct dump mining activity in the state in accordance with an expert committee's report. Accordingly, the policy for regulating iron ore dump handling was notified on Sep 14, 2023. The Dump Handling Policy, 2023, paved the way to deal with the 700 million tonnes of low-grade ore lying inside and outside mining leases across Goa and to export 25 million tonnes per annum. Goa iron ore mines: Image for representation
Time of India
01-05-2025
- Business
- Time of India
Leaseholders must register by July for mining new ‘major minerals'
Jaipur: Mining leaseholders in Rajasthan are required to register with Indian Bureau of Mines (IBM) by July 31, following the reclassification of Quartz, Feldspar, Mica, and Barytes from minor to major minerals by the Union govt. This change is set to significantly affect Rajasthan's mining sector, with full implementation of the new regulations expected by March 31, 2027. The reclassification followed recommendations from an inter-ministerial committee, which recognised the importance of these minerals in emerging technologies and energy transitions. An official said, "An inter-ministerial committee formed in March 2024 discovered that Quartz, Feldspar, Mica, and Barytes are commonly found in pegmatite rocks, which are a crucial source of critical minerals like Lithium, Beryllium, Sodium, Tantalum, and others used in industries such as energy, space exploration, and healthcare." The govt has also established guidelines for transitioning mining leases to the major mineral category. Leaseholders of these minerals are now required to register online with Indian Bureau of Mines by July 31. Until March 31, 2026, leaseholders will continue to pay royalties to state govts under the existing terms, with further directions to follow. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like It's Affordable and Actually Works Undo Moreover, leaseholders must submit updated mining plans by Dec 31, 2025, for approval by the state govt. For leases expiring before March 2027, new mining plans will be required to ensure continuity. Additionally, leaseholders are required to submit digital imagery of their lease areas by July 1, 2025.
