...Mining was a profitable business during British colonial times. However, although the British did indeed support coal, gold, silver, iron ore and steel mining, they did not look favorably upon mining other metals such as lead. They believed that India's development of metallurgy would lead to production of weapons for the "natives," a potential threat to British rule. The British implemented the Arms Act in 1878 to outlaw Indian ownership of firearms and limited Indians from mining and working metals that might "sustain it in future wars and rebellions." (14) Several mines were actually closed down under British rule. IV.4 Coal Mining Large-scale commercial coal mining in India began in 1774 under the East India Company in the Raniganj Coalfield along the Western bank of the Damodar River. The introduction of steam locomotives in 1853 made possible the effective transportation of coal from the mines to urban centers and ports (15). India's output of coal rose from 2,203 thousand metric tons in 1890 to 30,695 in 1947 (16). Coal mining proliferated during and after World War I; from 1920 to 1930, national coal output increased from 18,250 to 24,185 thousand metric tons (16a). However, coal mining declined during the early 1930s, when the output dropped by more than 4,000 thousand metric tons in just three years. The facts collaborate with other sources that claim Indian industries declined along with Britain's economic stagnation during the 1930s...
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...involved in Indian mining The following paper looks at the major problems in Indian Mining industry, the key players involved in the entire system and tries to offer suggestions to improve the efficiency of the process for the better functioning of economy PREFACE Especially when one is dealing with natural resources and public wealth, earning profits shouldn‟t be our goal, earning profits in a right way i.e environmental and society friendly way should be our goal. Any work that causes benefit to few but harm to large number shouldn‟t be done. Ethics is not simply the absence of a negative; it is not a list of „rules‟ we should follow and „regulations‟ we should not break. Rather, it is a vibrant code that expresses our values. When we live an ethical life or run an ethical business, it means our decisions, policies and behaviour are all congruent with our values. These values lay the vision for the world. 1|P ag e INTRODUCTION In a resource rich country like India, mining is one of the key industries in the Indian economy without which Indian economic growth would not have been the way it is. Having said that mining in India has been a contentious issue and has been plagued by a dangerous mix of bad policies, weak institutions, corrupt government oversight and thus regulation of India‟s mining industry is largely ineffectual. The result is chaos. The level of lawlessness that is prevailing in India‟s mining industry is hard to overstate. Illegal mining is rampant in...
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... Executive Summary – MOE&F, INDIA rejected the application for Stage-2 (Final) Environmental Clearance and withdrew all the previous clearances for mining in Niyamgiri Hills given to Vedanta Alumina Ltd. (VAL) a subsidiary of Sterlite Industries INDIA Ltd. (SIIL) citing various facts and reasons. This report provides an in depth analysis of the factors that lead to the debacle of Vedanta Alumina Lanjigarh Project. In the collation and presentation of data Secondary sources have been largely used. Vedanta, being a big Corporate house with ample experience was well aware of the rules and legislations prescribed under the law but deliberately Indulged in malpractices and ignored the key issues when it came to the Implementation of the Robust Business Strategy as a part of unnecessary haste. This project is a complete failure as the main purpose of setting up of refinery at Lanjigarh was the mining from nearby Niyamgiri Hills which was rejected by MOE&F, INDIA. Main factors that contributed to the failure of Vedanta Project are primarily indulging in unethical and illegal practices to kick-off the project and ignoring the key stakeholders of the project i.e. Dongria Kondhs who are the inhabitants of the Niyamgiri Hills (Proposed mining Lease Area). The only ray of hope for Vedanta to make this project a success in terms of hindsight is to abide by the existing Rules and Legislation, satisfying Key stake holders and then pursue the matter again with MOE&F, INDIA. 2 Table of Contents ...
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...High risk, low return Introduction C oal COAL INDIA LTD’s shareholder value is threatened by poor corporate governance, faulty reserve estimations, regulatory risk and macro-economic issues. India Limited is the world’s largest coal miner, with a production of 435 million metric tons (MT) in 2011 -201 2. There is significant pressure on CIL to deliver annual production growth rates in excess of 7%. The company has a 201 7 production target of 61 5 MT.[1 ] Coal India’s track record raises questions over its ability to deliver this rate of growth. In addition, serious governance issues are likely to impact CIL’s financial performance. These pose a financial and reputational risk to CIL, its shareholders and lenders, while macroeconomic issues in the Indian energy economy pose a long term threat to Coal India. • CIL’s attempts to access new mining areas are facing widespread opposition from local communities and environmental groups. With its reliance on open-pit mining, access to new mines are essential for CIL to achieve production targets. • CIL has grown reliant on shallow, open pit mining for 90% of its production, and has lost in-house expertise on deep mining techniques. • CIL has a record of poor corporate governance, manifested in rampant corruption, poor worker safety and repeated legal violations. This has, in the last year alone, led to penalties and closure notices for over 50 mines, threatening both its financial performance and reputation. • CIL’s financial...
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...segment 5. Products / Services strategies 6. Channel and Distribution strategies 7. Pricing Strategies: m. Pricing determinants for industry n. Pricing strategies of company 8. Place 9. Consolidated SWOT analysis of company’s marketing operations 10. Financial Scorecard 11. Operational Scorecard 12. Recommendations for the future 1. Introduction to the Company History * An integrated mining and resources producer of zinc, lead, silver and cadmium. * Hindustan Zinc (HZL) was incorporated from the erstwhile Metal Corporation of India on January 10, 1966 as a Public Sector Undertaking. * A subsidiary of Vedanta Resources PLC. The world's the world's largest integrated producer of zinc and second largest zinc producer and the third largest Zinc smelter in the world and are on the verge of breaking into the top 10 global Silver producers.. Present Status in Industry Vedanta an over US $ 8.2 billion, Vedanta Resources plc (“Vedanta”) is a London listed FTSE 100 diversified metals and mining major. The group produces...
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...Indian Coal Mining Controversy which is also known as Coalgate Scandal. Coal mining controversy is a political controversy highlighting the nation’s irregularities in the matter of handling national coal deposits. Another scam in a history of Indian, Coal mining controversy is major fraud in 2012, which involved Rs 1, 86, 000 Cr losses to exchequer. This is serious allegation against Prime Minister of India Dr Manmohan Singh who is in a serious scrutiny of the CAG which leads to protest against the leading political party NCP and Prime Minister Dr. Manmohan Singh asking for his resignation. Social activist Arvind Kajrewal and IAC(India against corruption) activist marched to the Prime Minister, Congress and Bhartiya Janata party's member's residence in Delhi. The...
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...facing the coal sector are highlighted below: • Lack of Investments in Mining In spite of the economic liberalization of 1991 the mining sector has not seen major investments. This is possibly due to the problems such as government policy, land acquisition, development of infrastructure, transportation system, social engineering and community development involved in major green field site projects. There is a need to re-look at the total management solution for attracting investment in new mines. The solution has to lead to the creation of joint venture institutions with central government, state government and private sector as partners. The facilitation for the project through provision of land, infrastructural development, community development etc, can be done by the government agencies whereas the investment in the mine and the associated technological inputs can come from the private sector. In addition, the private sector must have the freedom to run the mine in a cost effective manner. This may be a long term solution for future mines in India and it will have unique opportunities for both the government and private sector to work together for India's development. • Historically, opencast mining has been favored over underground mining. This has led to land degradation, environmental pollution and reduced quality of coal as it tends to get mixed with other matter. • In addition, current economic mining practices are generally limited to depths of 300 meters and 25 percent...
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...INDIA’S IRON ORE (Reuters) - India, in its crusade against illegal mining, has choked its iron ore output and exports so hard that many companies are giving up on the sector. The mining and export bans in the key states of Goa and Karnataka have brought miners and other businesses to their knees, forced steelmakers to buy iron ore abroad and seen hundreds of thousands laid off. Following is a timeline of key developments in India's iron ore sector since Karnataka introduced its shipments ban: India’s iron ore exports are set to increase as Goa prepares to auction unsold stocks, following the easing of a ban on sales of the steel-making raw material. “Bids will be invited for about 15 million metric tonnes of inventory that’ll be offered through online sales starting next month,” Goa’s mines director Prasanna Acharya said on Wednesday in a phone interview. “The buyers will be allowed to ship the ore overseas or sell locally,” he said. India’s top court in November had allowed sales of mined ore in Goa, while continuing the ban on extraction because of environmental concerns. Goa was the nation’s biggest iron ore exporter before the ban was imposed in September 2012. “Goa’s mines department has sought applications from prospective bidders and we hope to have the first auction early February,” Acharya said. “There’s no timeline for completing the sale of the entire quantity.” The revival in Goa’s exports comes as iron ore shipments from India are poised to tumble for a fourth...
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...Pollution Research www.atmospolres.com Assessment of air pollution around coal mining area: Emphasizing on spatial distributions, seasonal variations and heavy metals, using cluster and principal component analysis Bhanu Pandey 1, Madhoolika Agrawal 1, Siddharth Singh 2 1 2 Laboratory of Air Pollution and Global Climate Change, Department of Botany, Banaras Hindu University, Varanasi–221005, India Environmental Management Group, Central Institute of Mining & Fuel Research (CSIR), Barwa road, Dhanbad–826015, India ABSTRACT Jharia Coal field (JCF) in Jharkhand is the richest coal bearing area in India, which contains large quantities of high grade coking coal. The conventional coal fuel cycle is among the most destructive activities on the earth, threatening the health, polluting the air and water, harming the land, and contributing to global warming. The variations in air quality in terms of sulfur dioxide (SO2), nitrogen dioxide (NO2) and particulate matter around JCF were evaluated over the period of 2010 and 2011 at five sites during different seasons. Air pollution index (API), calculated on the basis of suspended particulate matter (SPM), SO2 and NO2 concentrations was highest near the coal mining area. The ambient concentrations of heavy metals (in PM10) also showed significant temporal and spatial variations at different sites around coal mining areas. Pollutants dispersion and spatial variations were explained by the ...
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...consists of two major groups: ferrous metals and non-ferrous metals. Non-ferrous metals, which include aluminium, copper, zinc, lead, nickel and tin, are used to make alloys, castings, forgings, extrusions, wires, cables, pipes, etc., and find their application in a number of sectors such as agriculture, infrastructure facilities like power plants, automobiles, railways, telecommunications, building and construction and in engineering and chemical plants. There are significant reserves of non-ferrous metal ores in India. India is rich in bauxite (aluminium ore) and has grades of zinc, lead and copper reserves. Copper, lead and zinc are also imported as scrap or concentrates to be processed by secondary/custom smelters. Nickel and tin are also imported by India. Ferrous metals primarily consist of iron and different varieties of steel. Indian steel industry has shown strong performance in the recent past in terms of production, capacity utilisation, exports and consumption. India is now a major competitor among steel producers in the world. The sSteel industry contributes 1.3 per cent to India’s GDP and accounts for 10 per cent in Excise Duty collections. The industry provides employment to 0.4 million people directly and 0.6 million people indirectly. While this sector covers a large domain consisting of a variety of metals, this report focuses on four key metals...
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...Sesa Goa Ltd and Sterlite Industries India Ltd, two group companies. The new entity, Sesa-Sterlite, with a market capitalisation of Rs 1,24,000 crore, will be in top 10 Indian companies. | | | | | In a court-convened meeting on June 19, the shareholders of Sesa Goa voted in favour of the merger of the two companies. In an announcement to the stock exchanges on Monday, Sesa Goa said the shareholders had given their nod to the merger. “Of the members present and validly voting, 91.7 per cent in numbers representing 79.12 per cent of votes in value voted in favour of the resolution approving the scheme.” REATING A GIANT Vedanta said it is simplifying its business by merging its Indian subsidiaries | How the Sesa-Sterlite merged entity stacks up among India’s largest companies | Companies | M-Cap (in Rs crore) | TCS | 2,37,927.02 | Reliance Ind | 2,34,273.32 | ONGC | 2,33,521.83 | Coal India | 2,12,735.00 | ITC | 1,95,499.09 | SBI | 1,41,918.25 | Infosys | 1,41,742.53 | HDFC Bank | 1,26,455.22 | NTPC | 1,25,578.36 | Sesa-Sterlite* | 1,24,000.00 | Bharti Airtel | 1,17,229.44 | * Merged entity | Also, shareholders of Sterlite Industries voted in favour of the merger on June 21 in Tuticorin. Sterlite said that 92 per cent of the total value of votes were in favour of the merger. Timeline | August 2010: Vedanta agrees to buy majority stake in Cairn India | December 8, 2011: The Cairn India buy finally gets completed after sorting...
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...Iron and steel, cement, aluminium, machine tools, petrochemicals producing industries are called mineral based industries. Mining is the extraction of valuable minerals or other geological materials from the earth, from an orebody, lode, vein, (coal) seam or reef, which forms the mineralized horizon and package of economic interest to the miner. To gain access to the mineralised package within the lease area (aka Mining Rights Lease) it is often necessary to mine through (to create access, shafts, addits, ramps) or remove to the side waste material which is not of immediate interest to the miner. The total movement of ore and waste, which also includes the removal of soil in some cases, is referred to as the mining process. Depending on the nature, attitude, and grade of the orebody, it is often the case that more waste than ore is mined during the course of the life of a mine. The waste removal and placement is a major cost to the mining operator and to facilitate detailed planning the detailed geological and mineralisation characterization of the waste material forms an essential part of the geological exploration programme. The science of extractive metallurgy is a specialized area in the science of metallurgy that studies the extraction of valuable metals from their ores, especially through chemical or mechanical means. Mineral processing (or mineral dressing) is a specialized area in the science of metallurgy that studies the mechanical means of crushing, grinding, and washing...
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...Overview: Index of industrial production (IIP) fell by 2.1 per cent in November on a year-on-year basis, even sharper than October’s decline of 1.6 per cent. Despite a pick-up in core infrastructure industries such as mining and electricity, industrial production fell in November as the manufacturing sector contracted by 3.5 per cent compared to a year ago. Industrial growth is likely to remain weak for the rest of 2013-14 due to infrastructure and input constraints, and weak domestic demand. Robust export growth with rising global demand may however, provide some cushion to manufacturing production. Even though the mining ban has been lifted in Karnataka, revival in mining output will be slow as it will take time for firms to obtain relevant clearances and ramp up production. The Cabinet Committee on Investments has also been fast-tracking stalled projects; however, as most of these are infrastructure projects and have long gestation periods, the impact of these measures will not be felt until 2014-15. Core sectors such as mining and electricity rebounded in November from last month’s lows as higher coal production lifted mining output and raised power production. Electricity output grew by 6.3 per cent while mining expanded by 1.0 per cent in November. Mining sector has now contracted for three consecutive years (-2.2 per cent for April-November 2013) while manufacturing growth has completely collapsed (Figure 1). The only bright spot is electricity production, which has managed...
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...INDUSTRY The gems and jewellery industry occupies an important position in the Indian economy. It is a leading foreign exchange earner, as well as one of the fastest growing industries in the country. The two major segments of the sector in India are gold jewellery and diamonds. Gold jewellery forms around 80 per cent of the Indian jewellery market, with the balance comprising fabricated studded jewellery that includes diamond and gemstone studded jewellery. Besides, India is world's largest cutting and polishing Industry for diamonds, well supported by government policies and the banking sector with around 50 banks providing nearly $3 billion of credit to the Indian diamond industry. A predominant portion of the gold jewellery manufactured in India is consumed in the domestic market. However, a major portion of the rough, uncut diamonds processed in India is exported, either in the form of polished diamonds or finished diamond jewellery. The largest consumer of gold worldwide, India is also the leading diamond cutting nation. Gold and precious gems have played a pivotal role in the Indian social fabric and economy. Precious gems and jewellery are a part and parcel of Indian traditions and customs. Gold has traditionally been valued in India as a savings-andinvestment vehicle and even today, continues to be the second most popular instrument after bank deposits. Gems and jewellery is one of the fastest growing sectors in the Indian economy with an annual growth rate of approximately...
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...www.pwc.co.uk The direct economic impact of gold October 2013 www.pwc.co.uk The work carried out by PricewaterhouseCoopers LLP ("PwC") in relation to this report has been carried out only for the World Gold Council and solely for the purpose and on the terms agreed between PwC and the World Gold Council. The report does not constitute professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this report and, to the extent permitted by law, PricewaterhouseCoopers LLP, its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences to anyone acting, or refraining to act, in reliance on the information contained in this report or for any decision based on it. © 2013 PricewaterhouseCoopers LLP. All rights reserved. In this document, "PwC" refers to PricewaterhouseCoopers LLP (a limited liability partnership in the United Kingdom), which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity. The direct economic impact of gold Contents Foreword ........................................................................................................................................................................1 Executive summary ...........................................................................................................................................
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