Private sector to have equal partnership in mining auction
The Central Government is in the process of finalizing a policy to engage private players in mining sector. According to Union Minister for Steel and Mines, Narendra Singh Tomar, private sector would be brought in as an equal partner into the process once the guidelines and framework have been finalized. “82 mining blocks have been earmarked for auction and will be announced by end of October as Phase-I. Another 96 blocks have been identified for Phase-II,”he said addressing the Mining Leaders Roundtable meeting organised by the Confederation of Indian Industry (CII) in New Delhi on Friday. The auction process would be based on data provided by the Mineral Exploration Corporation of the states, he said, adding thathe will also tour the mineral-rich states before the auction. Industry leaders suggested the implementation of more rational tax regime and other sustainable measures to create conducive environment for mining activities in the country. Narendra Kothari, Chairman of CII National committee on Mining and CMD, NMDC, outlined seven-point action plan for getting mining off the ground. The industry body also sought the formation of a joint task force with representation from the sector to formulate a national exploration policy. Speaking on the recent amendments made to the mining sector, R Sridharan, Additional Secretary, Ministry of Mines, said, “MMDR Act was drafted to strengthen the weak regulatory regime, minimize the environmental impact, and curb rampant illegal mining.” Industry participants also highlighted the need for enabling conditions for attracting more investments, adoption of global best practices and maintaining economics of projects. They also emphasized on the need to implement the Act by fast-tracking the approval process and capacity building in all the states.
August 08, 2015 | 2:29pm IST.
to success.