India’s mineral output at risk as leases are set to expire
KOLKATA (miningweekly.com) – With 348 noncoal mining leases set to expire in 2020 and a lack of preparedness by provincial governments in holding fresh auctions, the country’s mineral production in the next few years is at serious risk.
The Federation of Indian Mineral Industries, the apex representative body of miners, has cautioned that raw material availability to downstream industries could be at risk if mining leases are not issued in specific timeframes.
Taking note of the immediacy of the issue, the Mines Ministry, in a communication to various provincial governments, said, “with 348 mining leases slated to expire by 2020, the provincial governments need to gear their machinery to commence auction of these operational mines from July 4, 2019, to avoid any disruption in production from these mines”.
The ministry has pointed out that even after new auctions are conducted, those securing the mining lease will have to be given “sufficient time to secure all mandatory approvals” and that any delays in the post-auction process will not lead to the operational mines getting stranded.
The provincial governments have been directed to submit action plans to the Mines Ministry, which should detail any fresh exploration that may be required within the leasehold areas, finalise geological assessment reports and identify specialised agencies that will be empanelled in the case of new exploration projects in the leasehold area.
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