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| Opportunities
in India's Mining Sector |
- India
has an estimated 123 billion tonnes of recoverable mineral reserves
remaining to be exploited (excluding fuel, atomic and minor minerals).
Besides coal, oil and gas reserves, the mineral inventory in India
includes 13,000 deposits/prospects of 61 non-fuel minerals (including
4 of the minor minerals). Expenditure outlay on mining is a meagre
sum when compared to other g markets and the investment gap is
most likely to be covered by the private sector. India
welcomes joint ventures between foreign and domestic partners
to mobilise finances and technology and secure access to global
markets.
- Potential
areas for exploration ventures include gold, diamond, copper,
lead-zinc, nickel, cobalt, molybdenum, lithium, tin, tungsten,
silver, platinum group of metals and other rare metals, chromite
and manganese ore, and fertilizer minerals.
- The
main opportunities in the mining sector (excluding coal and industrial
minerals) are in the development and
production of surplus commodities such as iron ore and bauxite,
mica, potash, few low-grade ores, mining of small gold deposits,
development of placer gold resources located on the
frontal belt of the Himalayas, mining the known deposits of economic
and marginal categories, such as base metals in Bihar and Rajasthan
and exploitation of laterite for nickels in Orissa, Molybdenum
in Tamil Nadu and tin in Haryana.
- Considerable
potential exists for setting up manufacturing units for value
added products.
- There
exists considerable opportunities for future discoveries of sub-surface
deposits with the application of modern techniques. Our need to
continue developing environmental plans and management systems
to meet these challenges led us to create a responsible global
player in the world of mining.
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