WBMDTCL asked to provide bank guarantee
In a letter to West Bengal Mineral Development & Trading Corporation, the union coal ministry asked the former to provide bank guarantee (BG) of Rs 1.3 crore for a coal block in West Bengal. In 2006, the coal ministry allotted the Ichhapur coal mine in the the Raniganj coalfields of West Bengal to the company for commercial use. The mine has geol
Ministry demands bank guarantee from Nalco
In line with the recommendation of an Inter Ministerial Group (IMG), National Aluminium Company (Nalco) was asked to provide bank guarantee equivalent to one year royalty. Nalco was asked to submit bank guarantee by the coal ministry because the former was delaying the development of Utkal-E coal block, allotted to it in 2004. The ministry has sought a guarantee of Rs 17.92
Coal ministry de-allocates 4 PSUs' coal blocks in Odisha
The Union coal ministry has decided to de-allocate a coal block in Odisha which is jointly allocated to four PSUs, including Odisha Mining Corp and Assam Mineral Development Corp for delay in production. The recommendation of IMG (Inter-Ministerial Group) through a letter has been considered and accepted by the government. Accordingly, Mandakini B coal block is deallocated, the letter said.
Govt to decide on green nod before auctioning 54 blocks
Government would soon decide on whether to secure environment and forest clearances for the 54 coal blocks before auctioning them to power, steel and other firms. Media reports suggest that government finds it preferable to secure green nod before auctioning these blocks in order to avoid delay in developing
Ministry takes steps to deallocate 13 blocks
Union Coal Ministry is working out the calculation for deducting bank guarantees and is also taking steps to de-allocate coal blocks of 13 allottees, who failed to develop it within a reasonable time frame. The coal ministry will be sending deallocation letters to 13 blocks and plans to initiate the process of deducting bank guarantees for 14 more blocks. According to reports, the coal ministry has approached the law ministry on guidance for the format of de-allocation letters that will be sent
India Cements expansion
India Cements (ICL) needs funds for expansion and to set up captive power plants.
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