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Posts Tagged ‘Metal and Mineral sector’

The National Steel Policy 2005 forecasts 110MT of steel production by 2019-20, which would require about 176MT of iron ore. India is a major iron ore exporter after Brazil and Australia. Multinational corporations such as POSCO, the Mittal Group, and domestic majors such as Tata and Jindal, are contemplating the best way to establish new production capacity.

India has significant bauxite deposits and is a major aluminium producer. With a growing economy, the Ministry of Mines expects aluminium demand to increase at a CAGR of over 6% and cross the 1.5MT mark in the next decade.

Demand for zinc and lead is growing at 10% pa, and the Ministry forecasts a CAGR of at least 8% over the next decade. With production expansion, India is becoming self sufficient in zinc. India is a small exporter, but should make its presence felt in the international market after capacity expansion.

The Indian government has lowered regulatory barriers and appointed a committee under the chairmanship of Anwarul Hoda, a member of the Planning Commission, to suggest changes in the national mineral policy to make it more investment-friendly.

We list the Committee’s terms of reference below.
To review the National Mineral Policy of 1993 and the Mines and Minerals (Development and Regulation) Act of 1957 and suggest changes to encourage investment in the exploration and exploitation of minerals by the public and private sectors.

To review the existing procedures for granting Refining Prospects/Prospecting Licences/Mining Licences and suggest ways of streamlining and simplifying them.

To review procedures for approving mineral exploration and mining projects under the Forest (Conservation) Act of 1980 and the Environment (Protection) Act of 1986, and suggest ways of expediting approvals.

To prioritise critical infrastructure needed in the Indian mining sector and recommend ways to facilitate investment to meet these needs.
To examine the implications of the policies of mineral-rich states to make value addition within the state a condition for the granting of mineral concessions, and to make appropriate recommendations in this regard.

To examine ways of augmenting state revenues from the mineral sector.
To examine any other issues relevant to stimulating investment and inducting state-of-the-art technology into the sector.

Metal and Mineral sector

Metal and Mineral sector-Organisation Chart