Archive for the 'Gemstones' Category

Samaja’s Shilpayana Supplement: Mineral resources of Odisha

Bauxite, Chromite, Coal, Diamond, Gemstones, Granite, Iron Ore, Natural Gas, Oil Comments Off on Samaja’s Shilpayana Supplement: Mineral resources of Odisha

Center to approve Ad Valorem royalty on non-coal minerals: Wall Street Journal

Ad Valorem, Bauxite, Chromite, Gemstones, Granite, Iron Ore, MINES and MINERALS, Mining royalty 4 Comments »

(Thanks to Umashankar babu for the tip.)

Following is an excerpt from a report in the Wall Street Journal.

India’s federal government has approved an increase in mining royalties for various minerals including iron ore, copper, zinc and lead, government officials said Wednesday.

Two mining ministry officials, who didn’t want to be named, told Dow Jones Newswires that India’s cabinet committee on economic affairs has approved the proposal for changes in royalties on minerals other than coal, and a formal notification with immediate effect is expected this week.

…  The change in rates will increase states’ annual revenue from royalties to 46.3 billion rupees ($968.6 million) from 22.88 billion rupees.

… The officials said the government will levy a 10% value-added or ad valorem royalty on iron ore mining.

For iron ore miners, the new royalty will mean switching to a tax regime under which they will be charged based on the market value of the minerals compared with the existing system of flat rates based on weight, the officials said.

At present, the government charges a fixed royalty of up to 27 rupees a metric ton on different grades of iron ore.

Iron ore spot prices in the local market may rise by about 10% in the near future, … said Rahul Baldota, …  But he added that iron ore producers in India, the world’s third-largest supplier of the commodity, will absorb the cost for exports in order to remain competitive.

…  India already charges value-added royalty rates for zinc, copper and lead, but the rates charged will now increase.

The government will charge an 8% royalty on zinc ore, up from 6.6% earlier, while the rate on copper will rise to 4.2% from 3.2%. The royalty on lead ore will go up to 7% from 5%.

On bauxite used for other than alumina and aluminum extraction and exports, a royalty of 25% will be charged. For use in alumina and aluminum extraction, the rate will be 0.5%. Previously, no royalties were charged.

Geetanjali gems and minerals proposes an SEZ in Orissa

Gemstones, SEZs 1 Comment »

Following is an excerpt from a report in Pioneer.

The Gitanjali Group, one of the oldest leading names in gems and jewellery, has proposed to set up a Special Economic Zone (SEZ) in the State. The group’s infrastructure arm, Gitanjali Infratech Limited (GIL), has approached Chief Minister Naveen Patnaik to set up its eighth SEZ for gems and jewellery.

The company’s chief executive officer Ajit A Vaidya has requested the State Government to allocate land for the purpose. If allowed, it will be the first of its kind in the State, said an officer of the Industries Department. The Gitanjali Group is known for its jewellery brands, Nakshatra, Gili, Desire, Asmi, Sangini and D’dmas in both domestic and international markets. GIL’s existing seven SEZs are spread over Maharashtra, Andhra Pradesh and West Bengal.

While the gross size of the Indian gem and jewellery industry is 20,889.21 million dollars, the country’s jewellery manufacturing is currently only a fraction thereof.

This is predominantly due to lack of availability of organised infrastructure, structured manufacturing and exporting environment, said Vaidya.

Therefore, setting up of more SEZs for this sector would promote export of the Indian products, he said.

The gems and jewellery sector, which is labour-intensive, currently generates more than 3 million jobs with the setting up of SEZs.

As there are more than 2 lakh workers from Orissa engaged in the diamond cutting and polishing industry in Surat, this will help them find jobs in their homeland, feels a senior official.

Diamond mine in Nuapada : Sambada

Diamond, Gemstones, Iron Ore, MINES and MINERALS, Mining royalty, Nuapada 1 Comment »


Orissa has top notch granite but does not take advantage of it

Balangir, Balasore, Bhadrakh, Gajapati, Ganjam, Gemstones, Granite, Kendrapada, Koraput, Nayagarha 5 Comments »

Following are excerpts from a report in New Indian Express.

Granite resources abound in State, but the potential is untapped due to lack of promotion and absence of a clear-cut policy.

Orissa has about 20 different colours of granite. Out of the five most-attractive (recognised) colour granite of the world, four are available in Orissa, lavender blue in Berhampur, ikon brown in Paralakhemundi, sweat green in Titilagarh and black in Jeypore vicinity.

In Berhampur, Nayagarh, Paralakhemundi and Balangir, granites of international standard are abundantly available.

Skilled labourers too abundantly available in Bhadrak, Kendrapara and Balasore districts.

As Rajasthan is best known for its marble industry, Orissa can carve a niche for itself in granite sector if a little care is taken by the Government to streamline it, analysts feel.

The existing granite industries in Orissa should be assured by the Steel and Mines department to get the raw materials sufficiently on priority basis. At present, the mine owners, mostly outsiders, are supplying only mining wastes.

Since Orissa’s colour granite is very attractive, the granite processing units in Andhra, Karnataka and Tamil Nadu are taking all quality raw blocks and selling that in the market after processing. In the absence of market linkage for finished products Orissa is losing out on revenue and scope for generating employment.

Traders have demanded that Government … open a granite park/growth centre in Berhampur. The rate of royalty on decorative stone block/granite stone block should be increased to Rs 1500 from the existing Rs 700 on the inter-state sales transactions. …

Proposal to set up a Gems and Jewellery SEZ in Bhubaneswar

Gemstones, INDUSTRY and INFRASTRUCTURE, INVESTMENTS and INVESTMENT PLANS, MINES and MINERALS, SEZs Comments Off on Proposal to set up a Gems and Jewellery SEZ in Bhubaneswar

Tahtya reports that Chhatisgarh Futuristic Infrastructure Development Company (CFIDC) has floated a proposal to set up a Gems and Jewellery Special Economic Zone (SEZ) in the state.

The company has come up with a proposal to set up a sector specific G&J SEZ at Bhubaneswar on a land of 150-200 hectare near the air port with an investment of Rs.250-Rs.300 crore.

Samaja also covers in its news.

Oriental Timex acquires mining rights for decorative stones in Malkangiri

Gemstones, KBK Plus district cluster, Malkangiri, MINES and MINERALS Comments Off on Oriental Timex acquires mining rights for decorative stones in Malkangiri

News reports mention that Oriental Timex has acquired mining rights for decorative stones at village Potteru in Malkangiri district. Following is a quote from one of the reports.

The company acquired the said rights through a prospecting license dated Apr. 13, 2007, executed between the company and deputy director of mines, Koraput Circle Koraput, government of Orissa.

The decorative stone quarry is spread over an area of 10.279 hectares / 25.40 acres. The deposits in this quarry are of black colour granite stone.

The company said is in the process of complying with the terms and conditions of the prospecting lease.

Orissa mining related links

Coal, Gemstones, Iron Ore, MINES and MINERALS Comments Off on Orissa mining related links

Following is a collection of links that I earlier compiled under the heading “Orissa mining and industries.