Mines Ministry reviewing NITI Aayog suggestions

The Ministry of Mines is contemplating on and is willing to adopt the method suggested by NITI Aayog CEO, Amitabh Kant regarding major policy changes to allocation and operation of mines in the country, Union Minister Narendra Singh Tomar said at an ASSOCHAM event held in New Delhi.

?Whatever he said was more based on principles and it is the job of the NITI Aayog to hold discussions on such issues. It has already taken a note of the subject and is working on it,? said Tomar while inaugurating an ASSOCHAM India Mining Summit.

He added that while his ministry too wanted to establish such kind of a method, but it would take some time. The minister also urged the private sector and public enterprises to proactively participate in mineral exploration in the vast eight lakh square kilometre geographical area.

?We need to think upon how can we legally increase exploration in the present scenario and we need to ascertain the various alternatives of dealing with challenges on this front,? said Tomar.

He also said that the passage of the Mines and Minerals (Development and Regulation) Act promoted transparency in auction process and is helping in enhancing mineral exploration.

?Today the auction process is being carried out in a very transparent manner and I am happy to share with you that till now 43 blocks have been successfully allotted and it has generated significant revenue to the tune of Rs 1.55 lakh crore for the states which would help in reducing poverty, generate jobs for youth, promote infrastructure development,? said Tomar.

He also said that of these 43 blocks that were auctioned, mining work had already begun on two blocks, while mining would commence on nine blocks within this year.