KOLKATA (miningweekly.com) - The Supreme Court-appointed Central Empowered Committee (CEC) this week recommended that some 49 iron-ore mining licences be cancelled in the Indian province of Karnataka, while also suggesting that a financial penalty be imposed on 71 companies on claims of illegal mining.
The CEC further recommended the scrapping of mining licence allocations in Karnataka on a “first-come first-serve” basis, and favoured the institution of an auction mechanism for a more efficient price discovery and allotment of iron-ore resources for both captive consumption and merchant sales. Read more here...
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