The focus of the minerals and metals industry will be ramping up production with a view to reducing import dependency. This is critical given the expected rise in demand from the infrastructure fuelled by policy reforms.
The Mines Ministry aims to boost mining company participation by proposing caps on performance security and upfront amounts for critical mineral blocks. The move follows pre-bid consultations and aims to streamline the auction process for 20 strategic mineral blocks, including graphite and lithium.
The Mines Ministry aims to boost mining company participation by proposing caps on performance security and upfront amounts for critical mineral blocks. The move follows pre-bid consultations and aims to streamline the auction process for 20 strategic mineral blocks, including graphite and lithium.
India needs to implement further reforms to encourage mineral exploration in the country, says Sumit Deb, outgoing President of the Federation of Indian Mineral Industries (FIMI). Deb doubts that international or domestic exploration companies will be interested in participating in the auctioning of exploration licenses under the proposed regime.
The Indian government has introduced a bill to amend the Offshore Areas Mineral (Development and Regulation) Act, 2002, to create a transparent allocation process for offshore mineral extraction. The proposed bill aims to establish a fair mechanism to allocate operating rights for offshore mineral extraction, aiming to remove the impasse in the sector.