Companies & Sectors
Goa Mines Dept suggests auctioning of illegally stored ore

According to the Goa Mines department recommendation new mining policy will give the government powers to confiscate the ore lying in those plots and auction it

 

Panaji: Goa Mines and Geology Department has suggested to the state Mines Ministry to confiscate and auction all the iron ore that is illegally stacked on various private lands across the state, reports PTI.

The department officials, who are in the process of formulating a new mining policy for Goa, have recommended that a checklist of all such plots working illegally across the state be prepared.

"Those, who are operating without registration with the department should face severe action. It is recommended that new mining policy will give the government powers to confiscate the ore lying in those plots and auction it," a senior official stated.

The new Goa Mineral (Prevention of Illegal Mining and Transportation and Storage) Rules, 2012 are being framed, the draft of which would be ready by mid-July, officials claimed.

They further said that during the recent investigation of the illegal transportation of ore, it was revealed that there are several land plots existing in the state, which illegally stack the ore, without a permission from the authorities.

The plots, he said, needs to be registered with the mining department and also needs to have no objection certificate (NOC) from the Goa State Pollution Control Board, a state-government agency.

The new policy has also suggested that the plots of less than 5,000 square meters should not be allowed to be registered with the department.

"This will curb all the fly-by-night operators, who create smaller plots without adhering to the rules," the officials said.

Goa exported 43 million tones of iron ore in the last financial year, which was extracted from its 90-odd mines, located in iron ore rich talukas of the state.

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L&T Construction gets Rs1,523 crore contracts in June

The company's buildings and factories segment secured orders worth Rs546 crore, while its infrastructure segment bagged orders worth Rs225 crore for the railway construction works

 

Mumbai: Engineering major Larsen & Toubro's construction arm on Wednesday said it has received new orders worth Rs1,523 crore in June from various segments, including additional works on ongoing projects, reports PTI.

The company's buildings and factories segment secured orders worth Rs546 crore, while its infrastructure segment bagged orders worth Rs225 crore for the railway construction works consisting of doubling of tracks between Hospet and Harlapur section on Hubli division of South Western Railway, L&T Construction said in a statement.

The water and effluent treatment business has been awarded a turnkey project worth Rs134 crore from the Jharkhand government for operation and maintenance of water supply system at Sahibganj under the National Rural Drinking Water Programme, it added.

The company's solar and power transmission segments have secured orders worth Rs125 crore and Rs195 crore, respectively, it said.

Besides, its minerals and metals won awards worth Rs298 crore.

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Kotak Life appoints Sunil Sharma as 'Appointed Actuary'

The insurance company, a JV between Indian Kotak Mahindra Bank and South African Old Mutual, appointed Sunil Sharma as Appointed Actuary

 

Mumbai: Kotak Mahindra Old Mutual Life Insurance (Kotak Life Insurance) on Wednesday said it has appointed Sunil Sharma as Appointed Actuary with effect from 1st July, reports PTI.

Sharma has more than 21 years of experience in Life Insurance and Reinsurance practice areas in India, the US, UK and South East Asia, having worked with companies like Swiss Re, GE Financial Assurance and leading life insurers in the country, the private insurer said in a release.

Kotak Mahindra Old Mutual Life Insurance is a 74:26 joint venture between Kotak Mahindra Bank, its affiliates and Old Mutual plc, that originated in South Africa.

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