Latest news with #Mines
El Chorouk
a day ago
- Business
- El Chorouk
Hydrocarbons: 'Signing of 5 major contracts worth over $600 million USD'
On Monday, the Minister of Energy, Mines, and Renewable Energies, Mr. Mohamed Arkab, oversaw the signing ceremony of 5 hydrocarbon contracts with foreign partners, with a total investment value of no less than $606 million USD, for a period extending up to 30 years. According to a statement from the supervising ministry, these contracts are part of the results of the 'Algeria Bid Round 2024,' which is the first international competition organized under the new Hydrocarbons Law No. 19-13. This round resulted in the awarding of 5 out of six proposed blocks for contracts extending over 30 years, including 7 years dedicated to exploration work, with a minimum total investment estimated at $606 million USD. A 'participation' contract was signed between Sonatrach and the alliance of Swiss company 'Philada' and Austrian company 'ZenGas,' concerning the 'Toual 2' block (Berkine Basin) in the southern wilayas or provinces of Ouargla and Illizi. Sonatrach also signed a 'participation' contract with the Chinese company 'Sinopec,' concerning the 'Gourn El Goussa 2' block (Gourara-Timimoun Basin) in the southern provinces of Bechar, Beni Abbes, El Bayadh, and Timimoun. The third contract was in the form of 'production sharing' between Sonatrach and the alliance of the Italian consortium 'Eni' and the Thai 'PTTEP,' concerning the 'Reggane 2' block in Adrar wilaya. A 'production sharing' contract was also signed between Sonatrach and the Chinese company 'ZPEC,' concerning the 'Zarafa 2' block (Ahnet-Gourara Basin) in the wilayas of Adrar and In Salah. The fifth contract was signed in the form of production sharing between Sonatrach and the alliance of 'Qatar Energy' and 'TotalEnergies,' concerning the 'Ahara' site in southern Illizi province. The same source confirmed that these results reflect the attractiveness of the new investment climate in Algeria, supported by a modern and flexible legal framework, and a clear strategy aimed at strengthening value-added partnerships, especially in the fields of exploration and the valorization of national hydrocarbon resources. The statement indicated that through this step, Algeria reaffirms its commitment to supporting sustainable investments in the energy sector, thereby enhancing its contribution to economic development and consolidating its position as a reliable and promising destination in the field of hydrocarbons at the international level.
Mint
a day ago
- Business
- Mint
Fall in coal imports in FY25 led to forex savings worth ₹60,681 crore, says coal minister
India's coal imports in 2024-25 fell nearly 8% to 243.62 million tonnes, leading to foreign exchange savings of over ₹ 60,681.67 crore, said G. Kishan Reddy, the Union minister for coal and mines, on Monday. In a written reply to a question in the Rajya Sabha, the minister noted that the imports stood at 264.53 million tonnes in 2023-24. 'During 2024-25, India imported 243.62 million tonnes of coal, compared to 264.53 million tonnes in 2023-24. Due to the reduction of around 20.91 million tonnes in coal imports, there has been a forex savings of around ₹ 60,681.67 crore during 2024-25 compared to 2023-24,' Reddy said. The fall in imports comes amid the rise in domestic production. India's coal production reached 1.047 billion tonnes in the last fiscal year, nearly 5% higher than 997.83 million tonnes in 2023-24. The minister said most of the country's coal requirement is currently met through indigenous production and supplies. The ministry of coal has set an ambitious domestic coal production target of about 1.5 billion tonnes by 2029-30. The focus of the government is on increasing the domestic production of coal and reducing non-essential coal imports. The ministry of coal launched the Coal Logistics Plan and Policy in February 2024 to develop infrastructure for efficient coal evacuation, considering increased coal production projection by 2029-30," he said. The minister also outlined steps taken by the Centre to increase domestic coal production. He noted that, in addition to regular reviews by the coal ministry to expedite the development of coal blocks, the government has taken several regulatory measures in the past few years, including the enactment of the Mines and Minerals (Development and Regulation) Amendment Act, 2021. State-run Coal India Ltd (CIL) has adopted a number of measures to increase coal production, including the adoption of new and modern technologies like mass production technologies (MPT) with the deployment of continuous miners, longwalls, and highwalls wherever feasible, he said, adding that digital transformation has been implemented on apilot scale in seven of its mega mines.
Mint
a day ago
- Business
- Mint
Fall in coal imports in FY25 led to forex savings worth ₹60,681 crore, says coal minister
India's coal imports in 2024-25 fell nearly 8% to 243.62 million tonnes, leading to foreign exchange savings of over ₹ 60,681.67 crore, said G. Kishan Reddy, the Union minister for coal and mines, on Monday. In a written reply to a question in the Rajya Sabha, the minister noted that the imports stood at 264.53 million tonnes in 2023-24. 'During 2024-25, India imported 243.62 million tonnes of coal, compared to 264.53 million tonnes in 2023-24. Due to the reduction of around 20.91 million tonnes in coal imports, there has been a forex savings of around ₹ 60,681.67 crore during 2024-25 compared to 2023-24,' Reddy said. The fall in imports comes amid the rise in domestic production. India's coal production reached 1.047 billion tonnes in the last fiscal year, nearly 5% higher than 997.83 million tonnes in 2023-24. The minister said most of the country's coal requirement is currently met through indigenous production and supplies. The ministry of coal has set an ambitious domestic coal production target of about 1.5 billion tonnes by 2029-30. The focus of the government is on increasing the domestic production of coal and reducing non-essential coal imports. The ministry of coal launched the Coal Logistics Plan and Policy in February 2024 to develop infrastructure for efficient coal evacuation, considering increased coal production projection by 2029-30," he said. The minister also outlined steps taken by the Centre to increase domestic coal production. He noted that, in addition to regular reviews by the coal ministry to expedite the development of coal blocks, the government has taken several regulatory measures in the past few years, including the enactment of the Mines and Minerals (Development and Regulation) Amendment Act, 2021. State-run Coal India Ltd (CIL) has adopted a number of measures to increase coal production, including the adoption of new and modern technologies like mass production technologies (MPT) with the deployment of continuous miners, longwalls, and highwalls wherever feasible, he said, adding that digital transformation has been implemented on apilot scale in seven of its mega mines. "Regular liaison is being undertaken by Singareni Collieries Co. Ltd for expediting the grant of permissions and clearances for the grounding of new projects and the operation of existing projects. SCCL has initiated action for developing infrastructure for the evacuation of coal, like coal handling plants (CHPs), crushers, mobile crushers, pre-weigh-bins, etc.," Reddy said.
New Indian Express
2 days ago
- Business
- New Indian Express
Polluting industries within Hyderabad ORR to be relocated beyond city limits: Dy CM
HYDERABAD: Deputy Chief Minister Mallu Bhatti Vikramarka has directed officials to expedite the relocation of all polluting industries currently operating within the Outer Ring Road (ORR) to areas beyond it. On Saturday, the minister chaired a Cabinet subcommittee meeting on revenue resource mobilisation at the Secretariat. Ministers and committee members N Uttam Kumar Reddy, D Sridhar Babu and Jupally Krishna Rao were present. The committee instructed officials to formulate clear guidelines and a relocation calendar, including a final deadline for shifting the industries. It also reviewed the status of housing units under various stages of the Rajiv Swagruha Scheme and vacant plots under the Housing Board. Officials were directed to ensure that the ongoing public auction process by the Housing Board is conducted transparently. The committee emphasised that the Housing Board must prioritise affordable housing for the common people and the middle class. Reports on revenue growth achieved in the past month were also presented. The Commercial Taxes department reported a 1.8% increase, the Stamps and Registrations department recorded a 3.6% rise, and the Mines department reported a 7% growth in revenue. Chief Secretary Ramakrishna Rao, Principal Secretary of Finance Sandeep Kumar Sultania, Special Chief Secretary of Industries Sanjay Kumar, Principal Secretary of Mines Sridhar, MAUD Secretary Ilambarthi, HMDA Commissioner Sarfaraz, Mines Commissioner Shashank, District Collectors Harichandan and Narayana Reddy, and TGTDC MD Valluru Kranti were among those present at the meeting.
The Hindu
3 days ago
- Business
- The Hindu
Deputy CM Bhatti directs shift of polluting industries outside ORR
Deputy Chief Minister Mallu Bhatti Vikramarka has instructed officials to expedite the process of shifting all polluting industries currently located within the Outer Ring Road (ORR) to areas outside the ORR. This decision was made during a Cabinet Sub-Committee meeting focused on revenue generation, held at the Dr. B.R. Ambedkar Secretariat on Saturday. The Sub-Committee, which includes Ministers N. Uttam Kumar Reddy, D. Sridhar Babu and Jupally Krishna Rao, directed officials to prepare clear guidelines and a relocation calendar for the shifting of industries, along with setting a final deadline for the process. The meeting also reviewed the status of housing units under the Rajiv Swagruha Scheme and vacant plots under the Housing Board. Emphasising the need for affordable housing, the committee instructed officials to ensure that the ongoing public auction process by the Housing Board is conducted transparently and that housing units are made accessible to the common people and middle class. The meeting also saw reports on revenue growth from various departments. The Commercial Taxes department reported a 1.8% increase, the Stamps & Registrations department saw a 3.6% rise, and the Mines department recorded a 7% increase in revenue. Senior officials, including Chief Secretary Ramakrishna Rao, Finance Department Principal Secretary Sandeep Kumar Sultania, Metropolitan Urban Development Secretary Ilambarthi, Mines Commissioner Shashank, District Collectors Harichandan and Narayana Reddy, TG TDC MD Valluru Kranti, and Deputy CM's Special Secretary Krishna Bhaskar, attended the meeting.
