Mineral production index grew 3.9% in November
The Dollar Business Bureau The mineral production index of mining and quarrying industry for the month of November rose by 3.9% while the overall value of mineral production in the month has been projected at Rs.20,481 crore. “The index of mineral production of the mining and quarrying sector for November 2016, at 135.9, was 3.9% higher compared to November 2015,” Mines Ministry said in a statement on Friday. “The cumulative growth for the 8-month period April-November of 2016-17 has been 0.3% as compared to the same period in the previous year,” it said. The total value of mineral output - excluding minor and atomic minerals - in the given month was Rs.20,481 crore. The highest contribution was from coal at Rs.8,737 crore (43%). The other major minerals ...
Mineral production up by 2.3% in November 2015
The Dollar Business Bureau India’s mineral production increased by 2.3% in November last year compared to the output of the same month in 2014 and the total production value crossed Rs.19.300 crore. The index of mineral production of mining and quarrying sector for November stood at 131.5, which is higher by 2.3% compared to November 2014, Mines Ministry said in a statement. The cumulative growth in mineral production during April-November of the current financial year also went up by 2.1% over the corresponding period of previous year. While coal with total production value of Rs.8266 cr (43%) was the highest contributor to overall production during the month, crude petroleum came second with Rs.5525 cr, followed by natural gas (utilized) at ...
Govt keen to engage overseas investors in mineral exploration
Mines Ministry also stressed on the need for raising exploration spend from the current 0.4% The Dollar Business Bureau For attracting private sector in exploration, the government proposes three models revenue share from mining lease proceeds for 50 years, reimbursement of costs, and joint venture with public sector. The government is actively thinking of allowing private sector companies including overseas exploration firms to carry out mining activities in the country. The Ministry of Mines said on Thursday that it is in the process of bringing a national mineral exploration policy so as to ensure active participation from private companies in the sector. The government is committed towards bringing in an attractive exploration policy to encourage private investment and expertise into the sector and ...
