Posco Archive

  • It is ironic that while iron ore worth Rs 100 crores is being pilfered and looted by private interests each day in a cosy crony capitalistic relationship, NMDC is looking for fresh investment for iron ore in Australia! Add to that the proposed allotment of iron ore to private barons worth trillion of dollars for petty royalty and not to NMDC, the tragedy of a poor nation suffering at the hands of corrupt politicians is complete.

    Mining Mess: Open letter to Manmohan Singh

    Posted on August 7, 2010 | 3 Comments
    It is ironic that while iron ore worth Rs 100 crores is being pilfered and looted by private interests each day in a cosy crony capitalistic relationship, NMDC is looking for fresh investment for iron ore in Australia! Add to that the proposed allotment of iron ore to private barons worth trillion of dollars for petty royalty and not to NMDC, the tragedy of a poor nation suffering at the hands of corrupt politicians is complete.

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  • Our iron ore is finite, unlike the venality of our politicians and kleptocrats. And so, according to conservative estimates, it will last for another 60 years. Under the circumstances, should we start exporting it to China at a throwaway price (compared to what it will fetch when the commodity gets scarce) to the detriment of the future generations? Or should we be conserving the resource and exploiting only that which is needed for the development of the country? Are we not stealing from the future generations?

    Selling India’s natural resources

    Posted on November 22, 2009 | 3 Comments
    Our iron ore is finite, unlike the venality of our politicians and kleptocrats. And so, according to conservative estimates, it will last for another 60 years. Under the circumstances, should we start exporting it to China at a throwaway price (compared to what it will fetch when the commodity gets scarce) to the detriment of the future generations? Or should we be conserving the resource and exploiting only that which is needed for the development of the country? Are we not stealing from the future generations?

    Continue Reading...