The Business Bytes
TBB BUREAU
NEW DELHI, AUGUST 23, 2022
Union Minister for Coal, Mines and Parliamentary Affairs Pralhad Joshi on Tuesday said that the Center is making sustained efforts to attract more private entrepreneurs into mineral exploration. Mineral exploration will be carried out without adverse environmental impact through enhanced use of drones and other latest technologies, he said.
Addressing the two-day International Conference on “Indian Minerals & Metals Industry – Transition Towards 2030 & Vision 2047” organized by NMDC Ltd, Ministry of Steel, Ministry of Mines and FICCI here today, Joshi said that through commercial coal mine auctioning Rs.25000 crore additional revenue has been generated last year and Odisha stood first in revenue generation.
The Minister called upon Geological Survey of India (GSI) to focus on new age minerals’ exploration. Touching upon some of the recent reforms initiated in the mining sector, Joshi said that coal production from captive mines is expected to touch 140 million ton this year compared to 89 million ton last fiscal. Total coal production during this financial year is likely to record 900 million ton, the minister further stated.
In order to give further fillip to mineral exploration, National Mineral Exploration Trust (NMET) has been made an autonomous body, the minister added.
Recalling his recent successful visit to Australia, the Union Minister said that compared to Australia our mineral exploration is restricted to limited area. He said that as result of recent innovative initiatives and amendments in Acts and rules, 190 major mineral blocks have been auctioned during the last seven years.
Pointing out that commercial coal mine auction is a big success, the minister urged the PSUs to start production from allotted coal blocks at the earliest or else the same may be a surrendered to the ministry for re-auctioning.
