Agarwal Min Chem. Ltd was established on 19th January, 1984 under the kind guidance of CEO Mr. Ras Agarwal. The company has a joint venture with Rajasthan State Mines & Minerals
India produces nearly 89 minerals under different groups of minerals like crude oil, metallic minerals, non-metallic minerals, atomic minerals and minor minerals. Coal dominates the mineral market to the tune of 80% and other minerals like iron, copper, zinc, lead and aluminium. India is also the largest producer of mica. Limestone, magnesite, dolomite, barytes, kaolin, gypsum, apatite &phosphorite, steatite and fluorite account for 92 percent of non-metallic minerals. Government of India has also approved FDI at 100% through automatic route. There is significant scope for new mining capacities in iron ore, bauxite, and coal and untapped reserves in India is estimated at 85 billion tonnes.
Supreme Court of India has quashed the second renewal of iron ore mining leases given to 88 companies in Goa in 2015. The apex court directed the Centre and the Goa government to grant fresh environmental clearances to them. Those who have been granted a second renewal in violation of its previous decision and directions, are granted time to manage their affairs and may continue mining operations till March 15 this year.
They are directed to stop all mining operations with effect from March 16, 2018 until fresh mining leases (not fresh renewals or other renewals) are granted and fresh environmental clearances are granted. The apex court also directed the government to set up a SIT and a team of chartered accountants to recover the amount from mining companies, which were allowed to extra
India's iron ore output is set to increase from current 136 million tonnes to 185 million tonnes by 2020 with a average growth rate of 6.9 % over the period. The output growth is to be supported by the removal of export taxes in the Union Budget for low-grade ores and the country's Mines & Minerals (Development & Regulation) (MMDR) Act, which will streamline licensing and reopen closed mines. As part of India's 2016 Union Budget, export duties for iron ore lumps and fines below 58 per cent Fe content were reduced to nil from 30 per cent and 10 per cent respectively, which will significantly aid Goan shipments to recover as miners remain burdened by local levies and low prices. This reduction was aimed at boosting shipments from the western state of Goa where the Supreme Court lifted an ear