Mining – India 1
1. State traders to be worst hit by Maoist bandh 1
2. India to Consider Revision of Royalty Rates on Mining 2
3. Iron Ore in India: The Present and the Future of It 3
4. Faster forest clearances for coal projects in India 5
5. Siemens bags Rs 112 cr order from Vedanta Aluminium 5
6. Sesa Goa: Asset mining 6
7. Coal minister threatens over delays in captive coal mining 7
Mining – International 8
8. SAfrica says possible Anglo merger "unacceptable" 8
9. Government mulls allowing FDI in mineral exploration 8
10. Gold Fields big SAfrica mine still shut after deaths 9
11. China extends gas safety campaign to big coal mines 10
12. Mines ministry buries the Ola controversy 10
13. Lawyer’s complaint against PM rejected 12
14. Jamaica moves a step closer to IMF return 13
15. China's reliance on iron ore imports seen to rise -paper 13
Other News – India 14
16. ‘India’s high growth is not pre-ordained’ 14
17. US draws line with China on climate technology 14
18. 4.45 million irrigation Dugwells proposed to be recharged under Dugwell Rechage Scheme 16
19. 52 bonded child labourers rescued from zari units in Delhi 17
20. Maoist insurgency can hurt industry in India-experts 18
Mining – India
State traders to be worst hit by Maoist bandh
23 Jun 2009, 0345 hrs IST, Sanjay Ojha, TNN
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RANCHI: The worst impact of the two-day bandh called by the CPI(Maoist) to protest "Op Lalgarh" by security forces in West Bengal is likely to be on Jharkhand's business community. According to rough estimates, the total loss to industries, trade and commerce due to the bandh is expected to be between Rs 150 and Rs 200 crore.
Members of Federation of Jharkhand Chamber of Commerce and Industry (FJCCI) said the impact of the bandh would be more this time than any other bandhs in the past given continued violence resorted to by the Red brigade in West Bengal, Jharkhand, Orissa and Chhattisgarh.
"Earlier the loss we suffered during a day's bandh would be between Rs 25 and Rs 30 crore as movement of raw materials and finished goods would be adversely affected in some pockets. If a vehicle crossed the state border then there would be no disturbance," said an FJCCI member.
This time the situation is different given that the rebels have called bandhs in five state. What has made matters worse is that the Maoists have been resorting to violence for the last two weeks.
Given the spate of attacks carried out by the rebels, the FJCCI members have asked business houses, traders and transporters not to risk lives of their employees, workers and truck drivers during the bandh hours.
Singhbhum Chamber of Commerce and Industry (SCCI) vice-president and FJCCI member Suresh Sonthali said the maximum impact of the bandh would be on mining, transport and small-scale industry.
"Mining activities in all mines of Singhbhum region have come to a standstill. Not a single ounce of iron ore has been lifted. Truck and trailer operators have stopped lifting ore and finished products from over 700 small and medium-scale units located in Aditypaur industrial area," Sonthali said.
Sources in mining industry revealed that the loss is estimated to be between Rs 75 and Rs 100 crore during the two-day bandh. The loss to transportation sector is expected to be between Rs 25 and Rs 50 crore.
Sources in Central Coalfields Limited (CCL) said lifting of coal by trucks was also hampered in Hazaribag and adjoining areas due to the Maoist bandh.
http://timesofindia.indiatimes.com/Ranchi/State-traders-to-be-worst-hit-by-Maoist-bandh/articleshow/4689946.cms
India to Consider Revision of Royalty Rates on Mining
NEW DELHI -- India's federal ministry of mines is considering a change in royalty rates to an ad valorem basis from the current fixed-rate system as part of a new mining policy, Minister of Mines Bijoy Krishna Handique said Monday.
The federal mine ministry plans to make some changes that would provide investors a degree of certainty in their investments, the minister told reporters.
New legislation will provide a degree of certainty that investors' exploration licenses given will be extended to mining licenses, ministry secretary Shanta Sheela Nair said.
The changes are expected to be tabled in Parliament in December, Mr. Handique said.
"This would ensure a climate conducive to private investment and exploration," he said.
The potential for investments in the Indian mining sector is as much as $5 billion, ministry additional secretary S. Vijay Kumar said, without giving a time frame.
"We are hopeful that once the new legislation comes through, there will be a lot of interest," Mr. Kumar said.
Ms. Nair refused to comment on the ministry's views on a Ministry of Steel proposal to levy a 15% tax on iron ore exported from the country.
India produces about 200 million metric tons a year of low and medium-grade ore, of which nearly half is exported.
Write to Arpan Mukherjee at arpan.mukherjee@dowjones.com
http://online.wsj.com/article/SB124566546980436695.html?mod=googlenews_wsj
News
Tuesday, 23 Jun 2009
Iron Ore in India: The Present and the Future of It
Tuesday, 23 Jun 2009
Noted Indian economist specializing in the field of steel and its raw materials Dr AS Firoz provides you the valuable information on Indian iron ore market and is scenario.
This report critically looks at the current situation in the industry, potential of the iron ore market growth in the medium term, growth plans of the individual major companies, demand and supply issues related to raw materials like coal and iron ore, competitive positioning of steel production in the country, socio economic and political factors which may have direct and indirect impact on the growth dreams of the Indian steel makers, etc among a large number of other relevant issues of strategic importance.
This report is the product of extensive and in depth analysis with incredible amount of time spent to put the numbers in perspective. There are neutral and frank expert views on matters which have drawn attention of the industry in the recent period.
The phenomenal rise in iron ore prices and their continued shortages worldwide have raised many important questions on the future of the iron and steel industry globally especially in the context of the changing dynamics in the environment surrounding especially in respect of raw materials to this industry. The steel makers are undergoing a phase of uncertainty, volatility and speculation amidst a supply side crisis looming large over raw materials, importantly iron ore and coking coal.
The Indian story is no different. A country having over 25 billion tonnes of officially declared iron ore resources and producing over 210 million tonnes of them annually and exporting nearly 95 million tonnes of them is important from all angles to the world of iron ore business.
There are many questions of critical importance.
1. Does the country have more reserves and resources than estimated officially?
2. Will exports drop as domestic demand from the burgeoning steel industry rise?
3. What drives demand, supply and prices of iron ore in India?
4. Are there opportunities for global iron ore companies to export iron ore to India?
5. Will the government allot the bulk of the reserves to steel companies on captive basis?
If so, what will be space left for merchant mining to grow?
6. How are the steel companies in India placed in terms of their access to and security over iron ore resources?
7. What is happening currently to mining concessions? Who all have got them?
8. What is likely to be the fate of those potential steel makers waiting for mining leases?
10. Will the government restrict iron ore exports?
An exhaustive study of the Indian iron ore industry covering more than 125 pages to address the above issues among many. A large number of annexure with specific details on iron ore mines, global trends, mining concessions, global information and maps of the iron ore mining areas in India.
http://steelguru.com/news/index/2009/06/23/OTk1Mzc%3D/Iron_Ore_in_India%253A_The_Present_and_the_Future_of_It.html
News
Tuesday, 23 Jun 2009
Faster forest clearances for coal projects in India
Tuesday, 23 Jun 2009
BL reported that the centre is working on a series of measures to help coal projects clear regulatory and environmental hurdles faster.
Mr Jairam Ramesh the Environment minister said “It usually takes 3 to 5 years to get forest clearances from State governments. We will talk to the coal rich States about expediting the process. I don’t see why it should take more than a year.”
Mr Ramesh said that over the next 3 to 4 weeks, the union Coal and the Environment ministries will collate their data to identify forest areas that can be diverted for coal mining. Mr Ramesh, along with Mr Sriprakash Jaiswal Coal minister will also visit coal-rich States such as Jharkhand, Orissa and Chhattisgarh.
Mr Partha Bhattacharyya chairman of Coal India Ltd said an expedited environmental approval process would speed up development of new coal mines and increase production from older ones. He said our production targets are already pretty high.
(Sourced from Business Line)
http://steelguru.com/news/index/2009/06/23/OTk1NDI%3D/Faster_forest_clearances_for_coal_projects_in_India.html
Siemens bags Rs 112 cr order from Vedanta Aluminium
22 Jun 2009, 1803 hrs IST, ET Bureau
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NEW DELHI: Siemens Ltd. has bagged an order from Vedanta Aluminium Ltd. (VAL) to provide high voltage power distribution systems for the second
phase of expansion of their Jharsuguda, smelter plant at Orissa. The Rs 112 crore power augmentation package for Phase II will increase the capacity of the smelter plant from 0.5 million tonnes per annum to 1.75 million tonnes per annum – thus Vedanta's domestic production of aluminum ingots would be three fold for the plant.
Siemens’ Industry Solutions (IS) division, part of its Industry Sector has bagged a turnkey order worth Rs 112 crore from Vedanta Aluminium Ltd (VAL). The scope of work includes design, engineering, supply, installation, testing and commissioning of 33kV and 11kV electrical distribution system. The power and distribution transformers, along with high voltage VCB panels, SCADA systems, DC distribution, cabling and other auxiliaries will be supplied by Siemens. The time frame for the execution of the project is 18 months and is scheduled to be commissioned by 2010.
This order forms part of Vedanta Aluminium’s expansion project at Jharsuguda for Rs.12000 crore, which currently is in its second phase of implementation. The aluminium industry in India is the fastest growing sector among all metals. Upon completion, this Vendanta plant at Jharsuguda is expected to be Asia’s largest and among the top 5 integrated producers of aluminium worldwide.
Reflecting on the order, Mr. M Siddiqi, Whole Time Director and CEO, Vedanta Aluminium Ltd. said,” The expansion at the Jharsuguda plant is an important part in our growth strategy and it is our endeavor to make it one of the best aluminium plants in the world. We have chosen to extend our partnership with Siemens for our second phase of expansion, as they have demonstrated exceptional capabilities with their global technological expertise in the power sector. We are confident that Siemens will continue to bring tremendous value and we will be successful in our endeavor.”
Mr. Robert Wagner, Executive Vice President, Industry Solutions, Siemens Ltd said, “We are happy to receive a repeat order from Vedanta Aluminium, which reiterates the customer’s confidence in our high-end technology and solutions. We remain totally focused on making our customers more efficient and competitive through our comprehensive technology offerings, worldwide experience and unparalleled domain expertise. ”
The Siemens Industry Solutions (IS) division is a part of the Industry Sector of Siemens Ltd. This division is the integrator of systems and solutions for industrial andinfrastructure facilities, and is a global service provider for the plant and projects business covering planning, installation, operation and the entire life cycle. IS uses its own products, systems and process technologies in order to enhance productivity and improve competitiveness of companies in the sectors of metallurgy, water treatment, cement, pulp and paper, marine, mining, infrastructure and industrial services.
Siemens Ltd is the flagship listed company in India. Siemens in India, which comprises 20 legal entities, is a leading provider of industry and infrastructure solutions with a business volume aggregating about Rs 11,800 crore, as on September 2008. It operates in the core business areas of Industry, Energy and Healthcare. It has nation-wide Sales and Service network, 19 manufacturing plants, a network of around 500 channel partners and employs about 17,200 people.
http://economictimes.indiatimes.com/News/News-By-Industry/Energy/Power/Siemens-bags-Rs-112-cr-order-from-Vedanta-Aluminium/articleshow/4688409.cms
Sesa Goa: Asset mining
Nevin John / Mumbai June 23, 2009, 0:24 IST
Sesa Goa’s acquisition of Dempo Group’s iron ore assets in Goa bears a stamp of Vedanta Resources Chairman Anil Agarwal’s signature strategy — buy low-value assets, pump investments into them and work to turn them into cash cows. Vedanta’s previous acquisitions of Hindustan Zinc, Balco, Konkola Copper Mines and the 2007 takeover of Sesa Goa have helped the company multiply the value of its metals business. Along the same line, Agrawal-controlled Sesa Goa aims to scale up its iron-ore trade volume through the Rs 1,750-crore Dempo deal.
Sesa now has access to Dempo’s 21 mines in Goa with mineable resources of around 70 million tonne. At present, Sesa is the largest exporter to China where demand is picking up after the slump. Dempo, on its part, has international clients like Nippon Steel of Japan, Jinan Iron & Steel, Quingdao Steel of China and Noble Group of Hong Kong.
Ambit Corporate Finance Vice-president Ashim Bhuwania, the financial advisor of the deal, says that the acquisition brings strong operational synergies to Sesa Goa. “In Goa, some of the Sesa and Dempo mines share common boundaries and some of them are located close to each other. Sesa has a track record of ramping up production capacity and improving efficiency, which will improve the value of the assets acquired,” adds Bhuwania. Industry analysts say that Sesa is toeing the global trend where mining companies are consolidating assets for better price bargaining and market control.
http://www.business-standard.com/india/news/sesa-goa-asset-mining/361833/
Coal minister threatens over delays in captive coal mining
Tuesday, 23 Jun 2009
ET reported that Indian metal and power companies are facing the prospect of losing their allotment of captive coal mines with the ministry of coal planning to issue show caused notices to all companies that have failed to meet the milestones finalized for the development of captive coal mines.
The move is aimed at ensuring timely production from captive mines that are expected to generate over 20% of the total coal produced in the country by 2011-12.
Mr Sriprakash Jaiswal coal minister said “It has been observed that companies take coal blocks and sit on it for months before starting work on it. This will not be tolerated. We will first examine the reasons behind such delays. After getting all the necessary approvals, if a firm has not yet developed the blocks, its allotment will be cancelled.”
The ministry is expecting production from captive coal blocks to go up to over 100 million tonne by 2011-12 from the current 30 million tonne. As on date, 198 coal blocks with geological reserves of about 42 billion tonne have been allocated to various public and private sector companies under the captive route. So far just over 20 of these blocks are under production. The prime minister’s office had also asked the coal ministry earlier to take strict action against delays.
As per rules for captive mining, opencast mines and underground mines have to be brought under production within 36 to 54 months. Different milestone has also been set for getting geological report, forest clearance, environmental clearance, finalizing the mining plan and acquiring the land.
http://steelguru.com/news/index/2009/06/23/OTk1Mzg%3D/Coal_minister_threatens_over_delays_in_captive_coal_mining.html
Mining – International
SAfrica says possible Anglo merger "unacceptable"
Tue Jun 23, 2009 6:17am EDT
CAPE TOWN, June 23 (Reuters) - South Africa's mining minister said on Tuesday the government was opposed to a possible merger between Xstrata (XTA.L) and rival Anglo American Plc (AAL.L), terming such a potential move as "unacceptable".
"That is unhealthy. That is uncompetitive and in terms of the global standards and principles it is just unacceptable," Mining Minister Susan Shabangu told reporters.
"Definitely monopolies cannot be promoted in South Africa."
Anglo rejected Xstrata's "merger of equals" proposal on Monday, knocking a no-premium marriage and a combination with what it regards as Xstrata's inferior mines.
The snub came a day after Xstrata unveiled its plan and after top Anglo shareholders pressed for a big premium to create a giant to compete in a consolidating mining sector.
(Reporting by Wendell Roelf)
http://www.reuters.com/article/mergersNews/idUSWEA786120090623
Government mulls allowing FDI in mineral exploration
22 Jun 2009, 1613 hrs IST, IANS
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NEW DELHI: The government will place the new national mining policy in Parliament by the winter session which would allow foreign direct
investment (FDI) in the exploration of capital-intensive minerals like copper, nickel and chromium, Minister for Mines B.K. Handique said on Monday.
Releasing the 100-day agenda for his ministry, Handique told reporters: "Mines and Minerals (Development and Regulation) Act, 1957 has been amended many times. There is an urgent need to amend the Act again to give more boost to the sector."
He added that foreign investmentwould be allowed in mining only after the amendment in the Act.
Handique said his ministry was finalising a draft legislation in consultation with state governments and other stakeholders and would place it in parliament by the winter session.
S. Vijay Kumar, additional secretary in the ministry of mines, said exploration of minerals like copper, zinc, nickel and chromium was going very slow as it requires huge investments.
"The government encourages private participation. Many companies from Australia and Canada and the US have expressed willingness in exploration and extraction of these minerals," Kumar told IANS.
"But they are a bit apprehensive now and want to go ahead with their plans only after necessary changes are made in the Mines Act," he added.
The Geological Survey of India (GSI) has already been asked to put out all survey and exploration data, maps and reports on its website to facilitate private sector participation in mineral exploration.
The government is also looking at rationalising the royalty system on minerals.
Earlier there was a proposal to increase the royalty rates for minerals, but the government deferred a decision on the matter till September.
This was done to prevent higher royalty rates affecting mineral prices which would trigger inflation further.
The changes are expected to nearly double the mineral-rich states' royalty earnings to Rs.4,000 crore annually. The state governments are desperate for revision of royalty rates as they were last revised four years ago and their revision was due last year.
http://economictimes.indiatimes.com/News/Economy/Policy/Government-mulls-allowing-FDI-in-mineral-exploration/articleshow/4687860.cms
Gold Fields big SAfrica mine still shut after deaths
Mon Jun 22, 2009 11:49am EDT
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JOHANNESBURG, June 22 (Reuters) - Africa's biggest gold mine owned by Gold Fields (GFIJ.J), remained shut on Monday after two people were killed when rocks fell on them in an underground shaft over the weekend following a tremor.
South Africa, which has the world's deepest gold mines, has a dire safety record, and the fatalities have led to the temporary closure of mines by authorities, denting output.
"We are busy with investigations and the entire mine remains closed. It's too early to say how soon the mine will resume production," Willie Jacobsz, a spokesman for Gold Fields, the world's fourth-biggest gold producer, said.
The company's Driefontein mine has several shafts and produced 928,000 ounces of gold in the firm's 2008 fiscal year.
The workers died following an earth tremor on Saturday.
Driefontein was hit by a tremor on the previous weekend, leading to the death of two miners.
Last year 168 miners died in South African mines. About 80 workers have died in mines so far this year. (Reporting by James Macharia; editing by James Jukwey)
http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSLM38052720090622
China extends gas safety campaign to big coal mines
Mon Jun 22, 2009 11:40pm EDT
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SHANGHAI, June 23 (Reuters) - China has extended a safety campaign to address the hidden dangers of coalbed methane from small mines to medium- and large-sized coal mines, the country's top economic planner said on Tuesday.
The fatal gas explosions in Shanxi's Tunlan mine in February and Chongqing's Tonghua mine just last month exposed weaknesses in gas treatment and loopholes in management in medium- and large-sized coal mines, the National Development and Reform Commission said on its website (www.ndrc.gov.cn).
Explosions from gas built up in mines are a major safety threat to China's coal industry.
Beijing announced a gas safety campaign in mines with annual production capacity of 300,000 tonnes in April, and now said mines with higher capacity will also be targeted.
Small mines that do not meet safety standards for gas treatment by September 2010 will be shut down. [ID:nSHA352483]
The campaign aims to prevent gas explosions of high fatality, and increasing the extraction and use of coalbed methane, a largely uptapped source of energy.
"By end of 2010, 18 mining areas with annual gas extraction of over 100 million cubic metres should be established," the NDRC said in the statement.
China said it holds 36 trillion cubic metres in reserves of the gas, the world's third-largest after Russia and Canada, but it pumped 5.8 billion cubic metres (bcm) from underground and used only 1.8 bcm. (Reporting by Rujun Shen and Jacqueline Wong)
http://www.reuters.com/article/rbssEnergyNews/idUSSHA9877120090623
Mines ministry buries the Ola controversy
Priyadarshi SiddhantaPosted: Tuesday , Jun 23, 2009 at 0434 hrs IST
The PMO had asked minister Ola to refrain from taking any decision in this connection till the completion of the Lok Sabha elections in May.
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New Delhi:
The mines ministry has shelved the proposal to allocate the prized Ramandurg iron ore mines to state-run trading behemoth Minerals and Metals Trading Corporation (MMTC), putting a lid on the controversy that engulfed the then mines minister Sis Ram Ola a few months ago. Stiff opposition from the Prime Minister’s Office and the steel ministry is said to be one of the reasons behind the decision.
Ola had made hectic efforts to secure the Ramandurg mines for the MMTC, which is under the commerce ministry — a move that was firmly opposed by his then secretary Shantanu Consul.
“The Karnataka government was not in favour of granting the leases to the MMTC as several court cases were pending on it, while the steel ministry’s PSUs National Mineral Development Corporation (NMDC) and Kudremukh Iron Ore Company Limited also objected to the proposal to reserve Ramandurg mines for the MMTC. We took up the matter with the administrative ministries of the PSUs and after taking into account all the issues, we have decided not to process the reservation case for the present,” a mines ministry official said.
http://www.indianexpress.com/news/Mines-ministry-buries-the-Ola-controversy/480122
Lawyer’s complaint against PM rejected
17:11' 23/06/2009 (GMT+7)
Lawyer Cu Huy Ha Vu.
VietNamNet Bridge – The Hanoi’s tribunal president has rejected lawyer Cu Huy Ha Vu’s petition against the Prime Minister’s decision approving the plan on zoning for exploration, exploitation, processing and using of bauxite ore.
The decision dated June 19, signed by Hanoi’s tribunal president Nguyen Son, said that the Hanoi People’s Court rejects Cu Huy Ha Vu’s petition for the following reasons:
Firstly, the court doesn’t have a legal precedent.
Secondly, the Prime Minister’s decision was issued legally and satisfied all regulations in related laws of Vietnam.
Thirdly, the plan on exploration, exploitation and processing of bauxite is a policy of the Communist Party and the state of Vietnam. The PM’s decision was issued based on this policy.
On June 11, 2009 Cu Huy Ha Vu lodged a petition against the above decision of the PM at the Hanoi People’s Court.
On June 15, 2009, the Hanoi People’s Court released an announcement on the return of Vu’s petition for lack of legal foundation.
On June 17, Vu lodged an appeal with the Hanoi People’s Court’s tribunal president against the above announcement.
The Hanoi’s tribunal president’s decision said that this would be the last decision on this case.
Cu Huy Ha Vu, 52, PhD in Law, is the son of famous poet Huy Can and adopted child of well-known poet Xuan Dieu. He has worked at the Vietnamese Ministry of Foreign Affairs since 1979.
http://english.vietnamnet.vn/politics/2009/06/854492/
Jamaica moves a step closer to IMF return
Posted: 2009-06-22 09:10:46 (1 Comments)
Jamaica could move a step closer today to resuming a borrowing relationship with the International Monetary Fund (IMF).
The finance minister Audley Shaw, is to submit a document to the Cabinet this morning outlining the Government’s framework for a possible return to the fund.
Jamaica had a borrowing relationship with the IMF from the 1970’s to the mid 1990’s when Prime Minister P.J. Patterson brought it to an end.
But last week the finance minister said Jamaica was facing the possibility of being unable to finance its 555.7 billion budget.
He said the fallout in the bauxite sector has significantly affected the Government’s revenue generating prospects.
Mr Shaw said the IMF has received close to US$700 million from industrialized countries to help developing countries like Jamaica.
There have been concerns that Jamaica’s return to the IMF may be bad for the country.
But the finance minister said Jamaica would not enter into an agreement that will be counterproductive to its social and financial sectors.
He also said the IMF has assured that it will use Jamaica’s performance indicators, with other multinational organizations like the Inter-American Development Bank to form the framework of its loan requirements.
http://go-jamaica.com/news/read_article.php?id=10166
China's reliance on iron ore imports seen to rise -paper
Mon Jun 22, 2009 8:29pm EDT
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SHANGHAI, June 23 (Reuters) - China's reliance on imported iron ore is expected to rise to 70 percent this year from 50 percent previously, due to the availability of cheaper imports, the Shanghai Securities News reported on Tuesday, citing an unnamed executive from Sinosteel Corp Ltd.
Sinosteel, China's largest state-owned steel trading firm, has acted as a broker to import nearly 10 million tonnes of iron ore in the first five months of the year, almost triple the level of a year earlier, the executive told the paper.
"It was mainly because small and medium-sized steel mills in China have turned away from domestic ore to imported ore. As imported ore is more competitive in price, domestic steel mills' reliance on imports this year may rise to 70 percent from about 50 percent previously," said the executive.
China imported 53.46 million tonnes of iron ore in May, down slightly from a record 57 million tonnes in April, while its steel mills are still locked in price talks with iron ore suppliers including Rio Tinto (RIO.AX), BHP Billiton (BHP.AX) and Vale (VALE5.SA)(VALE.N). (Reporting by Rujun Shen and Jacqueline Wong; Editing by Ken Wills)
http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSSHA8760120090623
Other News – India
‘India’s high growth is not pre-ordained’
As global economists and business and political leaders gear up for the Emerging Markets Forum’s meeting in India starting June 23, IDFC CEO Rajiv Lall— one of the key people responsible for bringing the forum to India — discusses with Gunjan Pradhan Sinha issues pertinent to India’s emergence in an interview with The Indian Express
What is the Emerging Markets Forum? What made the Bombay Chamber of Commerce and IDFC bring it to India?
Emerging Markets Forum is a network of thought leaders, opinion makers, policy formulators and business people who come together to discuss issues of global and national significance. It is mainly a network of leading minds from emerging markets who create a platform for an open and informed debate focused on emerging markets. Usually the forum has four meetings in a year with one meeting focused on global markets including Latin America, Africa and Asia. So far we met in Jakarta in 2007, in Hanoi in 2008, and this year it is being held in Mumbai. The forum has emerged out of the Centennial Group based in Washington DC .
http://www.indianexpress.com/news/-India-s-high--growth-is-not--pre-ordained-/480104
US draws line with China on climate technology
By Shaun Tandon – 8 hours ago
WASHINGTON (AFP) — Access to green technology is becoming a growing stumbling block in global efforts to fight climate change, with US lawmakers bristling at what they see as China's attempt to "steal" US know-how.
China and India have led calls for developed nations to share technology to help them battle global warming as the clock ticks to a December meeting in Copenhagen meant to seal a successor to the Kyoto Protocol.
The US House of Representatives this month unanimously voted to make it US policy to prevent the Copenhagen treaty from "weakening" US intellectual property rights on a wind, solar and other eco-friendly technologies.
Congressman Rick Larsen, a member of President Barack Obama's Democratic Party who authored the measure, said the United States was caught between concern both over the climate and its soaring trade deficit with China.
"The US can be part of China's solution for the problems that they admittedly have with energy efficiency and emissions. And I think legitimately we want to be part of that solution -- we're the two largest emitters of C02 in the world," Larsen said.
"But we need to couple being part of that solution with making it part of the solution on the trade deficit as well," he said ahead of the measure's approval.
Representative Mark Kirk, a Republican who joined Larsen on a recent trip to China, said that climate change was the most contentious issue during talks with Chinese leaders.
Kirk said the Chinese essentially were seeking "the stealing of all intellectual property" related to energy efficiency and climate change.
Kirk warned that China's position could change the political dynamics in Washington, where promoters of a bill to force emission cuts say the United States stands to create millions of jobs in a new green economy.
"Right now a number of green industries like the climate change bill coming out. But if an international treaty sanctions the theft of their intellectual property, then there will be hardly any green jobs built in the United States," Kirk said.
The United States is the only major industrialized nation to reject the Kyoto Protocol, with former president George W. Bush saying it was unfair by making no demands of fast-growing developing nations such as China and India.
Despite a recession, President Barack Obama has vowed to work to halt the planet's warming, which UN scientists warn will threaten severe weather and the extinction of plant and animal species later this century if unchecked.
More than 180 countries promised at a December 2007 meeting in Bali, Indonesia to take part in the next global treaty with a "common but differentiated responsibility" for developed and developing economies.
But 12 days of talks this month in Bonn came up with no visible progress, with top Chinese negotiator Li Gao accusing rich nations of reneging on sharing technology and watering down commitments to cut emissions.
"There is an attempt to obliterate the principle of 'common but differentiated responsibility' and to split up the developing countries," Li told China's state Xinhua news agency.
Shyam Saran, India's envoy on climate change, also criticized rich nations, which he said bore the historic responsibility for climate change. India has proposed setting up global "innovation centers" to work on green technology.
A report last month by experts for the UN climate body called for a "balanced" approach, stressing the importance of intellectual property rights but saying all nations needed to accept the terms.
Technology transfer "is certainly a big and important question that might be a roadblock" in global negotiations, said Daniel Kessler of Greenpeace.
The environmental group has called for public and private funds on climate change to be pooled into an independent global body, funded to the tune of at least 140 billion dollars a year.
But such funding may prove hard to come by. The European Union, champion of the Kyoto Protocol, has come under fire from environmentalists for declining to put a figure on climate aid, saying it is waiting to see other nations' proposals.
http://www.google.com/hostednews/afp/article/ALeqM5iJxowxXuScWkFyiTNDYPlHwgkKWw
4.45 million irrigation Dugwells proposed to be recharged under Dugwell Rechage Scheme
RS. 536.75 CRORE SANCTIONEDTO NABARD BY M/O FINANCE
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17:53 IST
A State sector scheme of ‘Artificial Recharge to Ground Water through Dug wells’ aims to facilitate improvement in the groundwater situation in the affected areas, increase the sustainability of wells during lean period, and improve quality of ground water and community involvement in water resource management in the affected areas. Total number of irrigation dug wells proposed for recharge is 4.45 million. Of which 2.72 million dug wells owned by small and marginal farmers and 1.73 million dug wells owned by other farmers. The average cost of recharge structure per well is Rs. 4000. The beneficiaries would be farmers having owned wells in their agricultural land. The provision has been made for 100% subsidy to small and marginal farmers and 50% subsidy to other farmers.
The scheme has been launched in over-exploited, critical and semi-critical assessment units of 7 states viz. Andhra Pradesh, Maharashtra, Karnataka, Rajasthan, Tamil Nadu, Gujarat and Madhya Pradesh to provide sustainability to the dug wells during 11th Five Year Plan. The Scheme is under implementation in 1180 over-exploited, critical and semi-critical blocks in these States. The total cost of the scheme is Rs. 1798.71 crore including the subsiding component of Rs. 1499.27 crore. The Scheme is to be implemented on ‘Cluster approach basis’ in a time span of three years from 2007-2010.
Fund amounting to Rs. 536.75 crore has been sanctioned to NABARD by the Ministry of Finance. During 2008-09 (till 30th April 2009), funds amounting to Rs. 158.18 crore which include Rs. 139.18 crore as subsidy to beneficiaries and 19 crore for IEC/capacity building activities have been sanctioned to the concerned States under the above scheme. The Central Ground Water Board (CGWB) and State Ground Water Departments are providing technical guidance and creating awareness amongst beneficiaries.
SK/BS
http://www.pib.nic.in/release/release.asp?relid=49316
52 bonded child labourers rescued from zari units in Delhi
Published: June 23,2009
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New Delhi
Fifty-two bonded child labourers, trafficked here from various states and forced to work for 12-13 hours a day under inhuman conditions, were rescued from zari units in central Delhi.
The children, all in the age group of 8-14 years, were brought here from Bihar, Jharkhand and Madhya Pradesh after promising their families a better future for them. However, they ended up doing hard labour without any wages and had to endure thrashing, said NGO Bachpan Bachao Andolan (BBA) which rescued the children from Sarai Kale Khan with the help of SubDivisional Magistrate, the labour department and Delhi Police.
All the children have been working in the units form more than two years. An eight-year-old boy, the youngest child to be rescued, said that a man from his village gave Rs 700 to his father and promised that he would be admitted in a madarsa and would also assist in some minor work."But I was forced to work in zari industry and when I refused they threatened me,"he said.
He said he was made to work for 12-13 hours daily and was beaten up for not giving satisfactory results."We were always locked up in the room so that we cannot go out and talk to anyone. If we really plead to go out then an adult used to accompany us,"he said.
Kailash Satyarthi, the founder of Bachpan Bachao Andolan (BBA), said the children were kept in"most inhuman conditions"."It was so difficult to reach the units as they have been built on the sides of the sewer pipes. The activists had to step on the sewage water to reach the rooms. There was no ventilation or light. It was like a jail," Satyarthi said adding the city has become the biggest hub of child trafficking. He said at least 35 children are trafficked to Delhi everyday as per government reports.
Lallan Singh, Sub Divisional Magistrate of Defence Colony, was quoted as saying by a BBA statement that as the children were bonded labourers, they would be given release certificates under the Bonded Labour Act.
This certificate entitles them to a rehabilitation package of Rs 20,000 and availing of government schemes like Indira AwasYojana, housing schemes on a priority basis. They will also be enrolled in schools. Deputy Labour Commissioner S CYadav said cases would be filed against the owners of the illegal manufacturing units and they would also be fined.
http://www.indopia.in/India-usa-uk-news/latest-news/605936/National/1/20/1
Maoist insurgency can hurt industry in India-experts
Tue Jun 23, 2009 4:53am EDT
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By Bappa Majumdar
NEW DELHI, June 23 (Reuters) - The growing Maoist insurgency in India over large swathes of the mineral-rich countryside could soon hurt some industrial investment plans just as the country suffers an economic slowdown.
The government banned the Communist Party of India (Maoist) on Monday, bracketing it with Islamist militant groups, but experts said the ban would have little impact in the battle against the rebels.
On the ground, police fight Maoist insurgents with outdated weapons and are often outnumbered by rebels, who are skilled in jungle warfare and are well-equipped with rocket launchers, automatic rifles and explosives.
Last week, hundreds of Maoists declared the town of Lalgarh about 170 km (100 miles) from Kolkata, capital of West Bengal, as a "liberated zone", sparking unease among investors.
While the economic impact may be small compared with India's trillion dollar economy, the insurgency and the sense that it is worsening signals that India does not fully control its own territory and adds to risks for companies mulling investments.
The Lalgarh incident worried the country's third-largest steel producer, JSW Steel (JSTL.BO), which is setting up a $7-billion, 10-million tonne steel plant near Lalgarh.
"We are waiting and watching, so are the others," Biswadip Gupta, chief executive officer of the company's West Bengal operations, told Reuters on Tuesday.
"On top of the economic woes, you have the problem of Maoists now. It is very jittery," Gupta said by telephone from Kolkata.
Prime Minister Manmohan Singh has described Maoists as the biggest internal security threat since independence, and this year more than 300 people, mostly police, have been killed.
BUSINESS ALREADY HIT
The Maoists started their armed struggle in West Bengal's Naxalbari town in the late 1967, and have expanded their support among villagers by tapping into resentment at the government's recent pro-industry push. [ID:nDEL189848]
The rebels, estimated to have 22,000 fighters, operate in large parts of the eastern, central and southern countryside, and officials say they are now spreading to cities and bigger towns.
The Maoists, who are fighting for the rights of poor farmers and the disenfranchised, regularly attack railway lines and factories, aiming to cripple economic activity.
"It is still a law and order problem, but it has not been taken seriously and can have serious consequences if not dealt with properly," said Anjan Roy, analyst at the Federation of Indian Chambers of Commerce and Industry, referring to growth of industry.
The effect of the Maoist insurgency has already taken its toll on business.
In mineral-rich Orissa state, bauxite production at state-run National Aluminium Co Ltd (NALCO) (NALU.BO) has fallen by 20 percent since an April attack by Maoists in one of their mines.
The company has now reduced the storage of explosives at its mines, fearing attacks from the rebels.
"We are more vulnerable and we have to remain alert," said P.K. Mahapatra, the alumina company's executive director of mines and refinery.
A strike by Maoists in east and central India, against police action in Lalgarh, has hit supplies of iron ore and coal, a senior railway official said.
"Exports have also been hit and if supplies get cut off in this manner, at least three steel plants in the region will be greatly affected soon," Soumitra Majumdar, spokesman for the South Eastern Railways, said from Kolkata.
Rebels sided with farmers during violent protests by farmers, which forced the scrapping of a Tata Motors' (TAMO.BO) Nano car plant and a $3 billion chemicals hub complex in West Bengal.
"Existing industry may survive, but new money will not come in very easily and investors will be very scared unless the state does something quickly to control the Maoists," said Ajai Sahni of the Institute of Conflict Management, a New Delhi-based think-tank. (Additional reporting by Jatindra Dash; Editing by Alistair Scrutton and Sugita Katyal)
http://www.reuters.com/article/featuredCrisis/idUSDEL296260
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