PPP new mantra in mining sector

In an attempt to boost mining activities in the country, the Union government is all set to introduce PPP model in the segment, said the concerned minister. On this score, he called upon young mining aspirants to set up a committee to develop a position paper to speed up exploration activities. This committee should look at innovative ways to bring down the time of actual operation of mine after it is put up for auction, thus enabling the sector to make a quantum jump in production. Addressing the industry‘s concerns, the minister said that high value, strategic and import substitution minerals were the priority minerals for exploration for making India self-sufficient in minerals. He assured the industry that the issue of wide differences in stamp duty in various states would be addressed by the Government in consultation with the State Governments. Also, mapping would be undertaken and data on minerals would be updated for making an accurate assessment of mineral reserves in the country.