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| Indian iron ore mining mess - Chhattisgarh dubs new mining bill anti tribal |
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| Code:MFN002791 Prpduct:Iron Ore Date: 2010-07-28 |
The Chhattisgarh government has opposed a new mining legislation, which stipulates license allocation on a first come first-serve basis, stating that it is dangerous for tribals and would lead to loss of revenue for the State.
Dr Raman Singh CM of Chhattisgarh who participated in the meeting of the National Development Council last week said he has raised the issue with Prime Minister as well. He said that βWe have opposed the new mining legislation and have raised the issue before the Prime Minister. It is dangerous for tribals β
Dr Singh said that his government is opposed to various sections of the bill, which would allegedly lead to loss of revenue for the State and not benefit the tribals either.
He said that βThe legislation provides the mining licence on a first come first serve basis, whereas our view is to grant it to the applicant who offers maximum revenue sharing and value addition.β
Chhattisgarh is one of the most mineral rich States in India. He said that furthermore, the state government should get a larger share of the profit made by mining companies, which have been allocated deposits in the state. |
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| 06 Sep 2010 | | | Cash Ask | 3M Ask |
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| Copper | 7660.50 | 7675.00 |
| Aluminium | 2148.50 | 2179.00 |
| Zinc | 2146.00 | 2176.00 |
| Lead | 2160.00 | 2175.50 |
| Nickel | 21910.00 | 22000.00 |
| Tin | 21375.00 | 21400.00 |
| Al.Alloy | 2281.00 | 2170.00 |
| NASAAC | 2090.00 | 2120.00 |
| Steel Billet | 508.00 | 520.00 |
| Cobalt | 39501.00 | 41000.00 |
| Molybdenum | 35500.00 | 36000.00 |
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2010-09-06 |
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| PRODUCT |
BID
(US$/TON) |
ASK
(US$/TON) |
2B Coil-OCT |
3,300 |
3,380 |
No.1 Coil-OCT |
3,120 |
3,200 |
2B Coil-DEC |
3,300 |
3,380 |
No.1 Coil-DEC |
3,120 |
3,200 |
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MetalFirst China Average:
US$16.025/lb
As of Sept. 3, 2010
(updated weekly)
MetalFirst Average:
US$16.10/lb
As of Aug. 31, 2010
(updated twice weekly)
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