The Daily Fixture/Index List of 13th June 2012


FIXTURES - 13/JUN/2012



Baltic Exchange Daily Fixture/Index List 13/06/2012


BDI 902 (UP 9) BCI 1196 (DOWN 16) BPI 1004 (UP 29)

BSI 1018 (UP 11) BHSI 627 (UP 9)

Last published BDTI 689 (UP 4) BCTI 584 (DOWN 3)



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Industry Updates on 13th June 2012

13.06.2012 Industry Updates

INDUSTRY UPDATES


STEEL, METALS AND MINING
MOEF draft seeks to keep miners away from inviolate forest areas
If theenvironment ministry's draft proposal for 'inviolate forest areas' is accepted, large swathes of healthy forests, including national parks, wildlife sanctuaries, tiger reserves and wildlife corridors, would be out of bounds for all mining activities, and not just coal excavation.

The ministry's draft lists criteria for identifying forest patches where mining should be banned following the GoM on coal's decision to junk the no-go policy of the environment ministry. The GoM instead asked the ministry to delineate 'inviolate forest areas' based on a new set of norms.

A committee, under environment secretary Tishyarakshit Chatterjee, has submitted its draft report that looks to give the demarcation legal teeth by notifying inviolate patches under the Environment Protection Act, 1986. Although initially promoted by the coal ministry and Coal India Limited, the no-go policy was attacked later by mining lobbies for lacking a legal mandate.

The norms proposed include forest cover, forestry type, biological richness and wildlife value of areas under review, hydrological and socio-economic benefits. These are tough criteria that can be difficult to overlook in grant of mining rights.

The formula and criteria recommended by the Chatterjee panel will mean that areas within 1 km of parks and sanctuaries and critical migratory corridors linking wildlife habitats would almost by default be regarded as inviolate.