A leading supplier of metallurgical consumables to the iron, steel and aluminium industries.
The Indian Union Ministry of Mines has amended the Proposals for the Mines and Minerals Development and Regulation Bill 2011 to include stiff penalties to combat the major problem of illegal mining.
New powers will allow state governments to terminate mining leases and prosecute those responsible with stiff penalties of ten times the value of the minerals mined or 3 years in prison.
The main centres for illegal mining in India are Goa, Karnataka and Orissa. This year the Supreme Court imposed a ban on iron ore mining in Karnataka which caused major disruption to the domestic Indian market for iron units.
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