SAND MINING
Metal & Mining stocks: Same yet different, time to shed bias & watch for global signs. 5 stocks, 2 with an upside potential of up to 27%
In the last three months of volatility which nifty, sensex and broader market have witnessed there are some sectors which have shown a streak of out performance. They haven't fallen as much as nifty when the index was going down and pretty much moved in tandem with the index when it moved upward. Amongst many sectors metal has been one of them. There has to be a reason for this relative performance. In the case of metals stocks, there are some minor indications of improvement in the Chinese economy which have been keeping the metal prices stable. Question arises that if metal stocks have been stable, shouldn't be mining stocks, which also pretty much follow the same path of outperformance and be on watchlist because at the end of the day mining is a critical part of the whole supply chain.
BJP to uproot corrupt JMM-led alliance from power in J'khand to form next govt: Chouhan
BJP's election in-charge Shivraj Singh Chouhan aims to form the next government in Jharkhand by defeating the 'corrupt' JMM-led coalition. The party had a strong performance in the recent Lok Sabha polls in the state.
ED seizes benami documents, Rs 19L cash after raids on BRS MLA, brother
Search operations led to the seizure of "unaccounted" cash of Rs 19 lakh along with large number of property documents in the names of unrelated persons who are suspected to be "benamis" of the accused persons, the Enforcement Directorate said.
US on track to establish domestic rare earths supply chain for defence, official says
The US is on track to establish a domestic rare earths supply chain to meet its defense needs by 2027, according to a senior defence official. The US has been driving the build-out of a global supply chain for rare earths, metals used in magnets for green energy industries and defense, beyond dominant producer China since COVID upended global supply chains early this decade. Australia is classified as a domestic source of supply for critical minerals for the US under the Defense Production Act, and the US has been offering funding opportunities to Australian mine developers.
SC cautions ED against 'unnecessary harassment' of Tamil Nadu district collectors
The Supreme Court cautioned the Enforcement Directorate (ED) on Monday against causing undue inconvenience to district collectors in Tamil Nadu. This came after the Tamil Nadu government alleged that the collectors were kept waiting at the ED's office for long hours.
MP: Family of ASI Mahendra Bagri, killed by sand mafia, to get assistance amount of Rs 1 crore, state govt to send proposal to EC for approval
Earlier on Sunday, two people allegedly involved in the illegal sand mining industry were arrested after ramming their vehicle into a police officer in the Naudhiya area of Shahdol district, an official said. According to Additional Director General of Police (ADGP) Shahdol, DC Sagar, Assistant Sub-Inspector Bagri had been on duty, seeking to apprehend a suspect with an active warrant on Saturday night.
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In West Bengal's Asansol, it's TMC's 'Bihari Babu' vs BJP's 'Sardarji'
The Asansol Lok Sabha constituency in West Bengal, known for its mining and industrial belt, faces key issues like reopening closed factories, tackling drinking water scarcity in rural areas, and curbing illegal mining in abandoned collieries. The region, with a significant Hindi-speaking population, will see a contest between TMC's Shatrughan Sinha, BJP's Surendrajeet Singh Ahluwalia, and CPI(M)'s Jahanara Khan. Sinha, confident of retaining the seat, highlights his commitment to the constituency. Khan criticizes the lack of action by previous MPs on local issues.
SC reprimands Tamil Nadu district collectors' 'cavalier attitude'
The Supreme Court has criticized Tamil Nadu district collectors for not appearing before the Enforcement Directorate (ED) for a money laundering probe in a sand mining case. The court, led by Justice Bela Trivedi, deemed the officers' conduct unacceptable and suggested they can appear after the Lok Sabha elections.
ED conducts fresh searches in Bihar sand mining case
Enforcement Directorate searches in Bihar related to a money laundering case linked to illegal sand mining. The investigation covers premises in Arrah town, including individuals tied to RJD and Broadsons Commodities Pvt Ltd, with proceeds of crime amounting to Rs 161 crore.
Lalu Yadav's close aide Subhash Yadav arrested in sand mining case
Subhash Yadav, a close aide of RJD chief Lalu Prasad Yadav, was arrested by the Enforcement Directorate in Patna after raids at multiple locations, where nearly Rs 2.3 crore cash was seized. Alleged to be a key member of a sand mining racket, he is expected to appear before a special PMLA court.
SC asks Tamil Nadu DMs to appear before ED in probe related to illegal sand mining
The Supreme Court has directed five district collectors of Tamil Nadu to appear before the Enforcement Directorate in connection with a money laundering probe related to alleged illegal sand mining. The court stayed the Madras High Court order that had granted relief to the collectors. The state government and officials' plea against the ED summons was termed "strange and unusual" by the court. The district collectors have been summoned as witnesses in the case.
Maharashtra to sell sand online on 'no profit no loss' basis under new scheme: Minister Radhakrishna Vikhe Patil
Accordingly, it was decided to sell sand online on a "no profit no loss" basis, Vikhe Patil said after the cabinet meeting.
Foreign-made weapons, Rs five cr cash recovered by ED during raids in Haryana mining case
Foreign-made rifles, about 300 cartridges, Rs 5 crore in cash and more than 100 liquor bottles have been recovered during searches conducted by the Enforcement Directorate against former INLD MLA Dilbag Singh and his associates, official sources said on Friday.
Mines ministry identifies some offshore blocks for exploration
The mines ministry has identified offshore blocks within India's exclusive economic zone for granting operational rights, following amendments to the Offshore Areas Mineral (Development & Regulation) Act (OAMDR) in August. The ministry has sought comments from relevant departments to prevent overlapping with other projects.
'Illegal' sand mining probe: Madras HC stays ED's summons to TN officials
The Madras High Court on Tuesday intervened by staying the operation of the summons issued to five district collectors by the Enforcement Directorate. The summons were part of the agency's investigation under the Prevention of Money Laundering Act concerning alleged illegal sand mining activities in the state.
NGT bars desilting, mineral extraction at Bisalpur Dam in Rajasthan without green clearance
The National Green Tribunal has ordered Eastern Rajasthan Canal Project Corporation Limited (ERCPCL) to stop desilting, dredging, and mineral extraction at the Bisalpur Dam without obtaining environmental clearance. The order came after a petition filed by Jodhpur-resident Dinesh Bothra challenging the tender for sand mining at the dam for 20 years.
Bihar government asks district authorities to set up permanent checkposts to curb illegal sand mining
The move comes after attacks on police personnel and officials of the Mines and Geology Department by the sand mafia were reported from several districts. "Instructions to construct checkposts were issued to district authorities in a recent meeting chaired by the director of the Mines and Geology Department of the state government," an official said.
Illegal sand mining rampant in Jharkhand, Bihar: Union Minister
Union Minister Ashwini Kumar Choubey said illegal sand mining was "rampant" in Jharkhand and Bihar. The Union minister was on a two-day visit to Jharkhand as part of the Bharat Sankalp Yatra, launched by Prime Minister Narendra Modi from Khunti district on November 15.
Senior government officer who exposed illegal mining in Karnataka murdered in Bengaluru
A senior government geologist, known for her crackdown on illegal mining, was found murdered at her residence in Bengaluru. The police have detained her driver in connection with the murder. The victim was strangled and her throat was slit. The police are investigating possible motives, including her actions against illegal mining and a family dispute.
Sand mining scandal: Enforcement Directorate raids 3 dozen sites in TN
In line with its ongoing investigation into money laundering in the sand mining case, the Enforcement Directorate (ED) conducted searches at more than thirty different locations throughout Tamil Nadu on Tuesday.
NMDC eyes production from domestic coal and gold mines: CMD
Iron ore mining Navratna NMDC will operationalise its domestic coal and gold mines, while also pursuing overseas mineral assets, including those for Lithium in Australia. Responding to a query from ET, NMDC's Chairman and Managing Director (additional charge), Amitava Mukherjee said the mining company's lithium mining plans are at an early stage and feasibility studies will take over a year.
NGT panel to probe allegations of illegal mining by Brij Bhushan Sharan Singh in UP's Gonda
The National Green Tribunal (NGT) has created a Joint Committee to investigate allegations of illegal mining by BJP MP Brij Bhushan Sharan Singh in Gonda district, Uttar Pradesh. The committee will look into allegations of illegal mining in several villages and the illegal transportation, storage and sale of around 20 lakh cubic metres of minor minerals. The NGT has asked for a factual report and action taken report within two months, while the next hearing on the matter will be on November 7, 2023.
Many times UP cops arrest innocent, claims top Uttarakhand officer; Uttar Pradesh police terms comment 'irresponsible'
"Many times, the Uttar Pradesh Police catch innocent persons and claim they are guilty. It should not be like that. Catching one innocent person may lead to the rise of 99 more wrongdoers," Uttarakhand Additional Chief Secretary Radha Raturi said.
ED grills ex-Punjab CM Channi in sand mining PMLA case
Channi's nephew Bhupinder Singh alias Honey was arrested in this case by the agency days before the February 20 Punjab Assembly polls. A charge sheet was filed against him and others named in the case early this month.
Birbhum killings: A saga of violence and corruption spawned by illegal sand mining
Welcome to Birbhum's world of illegal sand mining, which has spawned rivalry, murder, a culture of adversaries storing guns and illegally manufactured bombs, and of course, corruption.
Several officials of Punjab government's sand mining department under scanner, says ED
Seeking his further custodial interrogation in the alleged sand mining scam, the agency told the court that Singh was in "contact with various officials working in the state government in relation with sand mining activities". The ED claimed that Singh had been "generating huge cash from illegal mining-related activities".
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