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National Mineral Index to help Indian Mining Sector Become Competitive

Mining News - Published on Tue, 28 Jul 2020

Image Source: National Mineral Index
Government of India has introduced slew of legislative reforms in coal & mining sector. National Mineral Index could adopt the strong suits of the National Coal Index capturing details from all price sources such as captive and non-captive mines etc. This methodology just as in coal will reflect the true & useful value of the minerals and will boost the attractiveness of the Indian mining sector. A just and uniform system for development of National Mineral Index for all minerals can go a long way in ensuring a competitive mining sector inviting healthy competition in auctions and active participation by smaller mining companies. Decision to open the coal sector for commercial mining, implementation of National Coal Index and commencement of the auction process of commercial coal blocks can transform the mining sector. It can help the country save around INR 80,000 crores per year on account of coal import by augmenting production in the country. In addition, the auctions are likely to generate a healthy revenue stream and create multiple livelihood opportunities.

Mining sector can benefit from timely implementation of the already announced mining sector reforms. This include introduction of single stage seamless auction of Exploration cum Mining cum Production regime which is key to attracting best-in-class technology providers from around the globe for partnering and investing in India with a surety of getting the right to produce once the discovery is established.

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Posted By : Yogender Pancholi on Tue, 28 Jul 2020
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