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The Union Ministry of Mines will facilitate introduction of high tech tools and gadgets to survey and mine minerals.
The ‘High Technology Reconnaissance-cum-Exploration Licence’ in mining sector is being done to facilitate and to attract big investments. The Ministry is planning to introduce this in the proposed Mines and Mineral Development and Regulation (MMDR) Bill 2011, said Vishwapati Trivedi, Secretary, Union Ministry of Mines.
“While transparency in allocation will definitely act as an incentive for investment, the game changer for attracting investment is High technology reconnaissance-cum- exploration licence,” he added.
Tenure
The new licence is planned with a tenure of six to eight years with a seamless transition to a mining lease.
The Government seeks to use this concession not merely to enable investments in exploration for deep-seated minerals but also allow faster exploration of the large geological potential areas in the country.
Area under concessions
The Ministry is planning to increase the size of the area that can be held under mineral concessions.
“The maximum area for one or more prospecting licence has been increased from 25 sq km to 500 sq km. Similarly, the total area that can be held by a lessee in a State has been increased from 10 sq km to 100 sq km,” said Trivedi. The mining lease would now be extended by a simple process, unless the lessee is in violation of the lease conditions, thus cutting down on the process time that is currently a source of uncertainty and corruption, he added.
To achieve the objectives of the National Mineral Policy 2008, the Ministry of Mines has finalised a strategy.
Priorities
Trivedi said the Ministry has identified six key priorities, including enhancing resources and reserve base through exploration and international acquisition, reducing permit delays, putting in place core enablers (infrastructure, human capital, technology), ensuring sustainable mining and sustainable development around mining , creating an information, education and communication strategy and undertaking measures to ensure implementation.”
“Suitable measures have already been initiated on the implementation of the strategy and include strengthening of the Geological Survey of India (GSI) and the Indian Bureau of Mines (IBM), setting up a mining tenement system for providing details on availability of potential areas to investors, preparation of sustainable development frame work for the mining sector,” he added.
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