logo
#

Latest news with #AssamMineralPolicy

Assam enters national auction map as northeast's mineral potential unveiled
Assam enters national auction map as northeast's mineral potential unveiled

Time of India

time16 hours ago

  • Business
  • Time of India

Assam enters national auction map as northeast's mineral potential unveiled

Guwahati: VL Kantha Rao, Secretary, Ministry of Mines, underscored that the Geological Survey of India has identified over 36,000 square kilometres in the Northeast India as having mineral potential, translating to nearly 3,000 prospective mines. He highlighted that Assam has now firmly entered the national auction map, signalling a new era for mineral development. The 2nd North East Geology and Mining Ministers' Conclave was inaugurated in Guwahati, Assam on Friday. He called for expanding exploration and research, including leveraging Artificial Intelligence in mineral discovery. Notably, the North East is home to one of India's first AI-supported exploration projects sanctioned under the National Mineral Exploration Trust. The Secretary urged all state governments to actively facilitate exploration, considering the challenging topography, and to ensure sustainability and adequate security for geologists working in remote areas. The inaugural session was addressed by Assam chief minister Himanta Biswa Sarma he shared that state has initiated the auction of seven limestone blocks in the Umrangso area of Dima Hasao district, with five already auctioned and Letters of Intent issued, and the remaining two expected to be auctioned by August 2025. He expressed confidence that, with the support of the Government of India and Indian Bureau of Mines, at least one of these limestone blocks could be operationalised by December 2025. Live Events The Chief Minister informed that during the Advantage Assam 2.0 Summit, the Mines and Minerals Department signed 14 MoUs securing investment commitments exceeding Rs 46,000 crore from national and international investors. He assured the gathering of Assam's conducive working environment and announced that the state cabinet has approved the formation of the Assam State Mineral Trust to promote sustainable mining and exploration of minor minerals. He added that the Assam Mineral Policy is in its final stage of formulation and is expected to be implemented within a month. Addressing the Conclave, Union Minister of Coal & Mines, G. Kishan Reddy, underscored the North East's critical role in India's mining and energy roadmap. He emphasised that under the leadership of the Prime Minister, the mineral-rich states of the North East are now receiving focused attention to transform untapped resources into drivers of economic growth, employment, and local empowerment. The Minister reaffirmed the Centre's full support to all North Eastern states to develop state-specific mining action plans and stressed the importance of environmentally responsible, technologically advanced mining practices. He also highlighted the need to align mineral initiatives with disaster preparedness, scientific research, and community development. Vikram Dev Dutt, Secretary, Ministry of Coal, highlighted the North East's strategic importance for India's energy security, owing to its rich tertiary coal deposits across Assam, Meghalaya, Arunachal Pradesh, Nagaland, Mizoram, and Sikkim. These deposits, he noted, are characterised by high calorific value, low ash, and relatively higher sulphur content. He shared that 10% of funds under Central Sector funded schemes for Exploration have been earmarked specifically for the North East, underscoring the need for targeted exploration initiatives. The Secretary also informed that five coal blocks in the region have been successfully auctioned, with a combined capacity of 1.2 million tonnes per annum, expected to create around 1,650 jobs and generate nearly Rs 800 crore in annual revenue for the states. He reiterated that sustainability remains central to the Ministry's coal development strategy in the region. During the inaugural session, significant documents were released, including the Geological Potential of Northeast India which contains the details of the vast yet underexplored mineral resources of the eight Northeast States, laying the roadmap for strategic exploration, research, augmentation and sustainable development. The document on Mining in India's Northeast by the Indian Bureau of Mines was also released. The Ministry of Mines unveiled updated District Resource Maps covering Dibrugarh (Assam), East Kameng (Arunachal Pradesh), Kamjong (Manipur), East Garo (Meghalaya), Aizawl (Mizoram), Phek (Nagaland), Namchi (Sikkim), and Gomati (Tripura) to guide future investments. India's mineral auction framework has gained strong momentum in recent months. Since FY 2024–25, a total of 283 mineral blocks have been put up for auction by the State and Central Governments. Of these, 161 mineral blocks have been successfully auctioned, bringing the cumulative tally to 515. This includes five mineral blocks from Assam and four critical mineral blocks from Arunachal Pradesh, opening new avenues for industrial growth and employment in the region. These auctions underscore the readiness of the North-East to play a central role in India's critical mineral strategy, while also reflecting the government's commitment to transparency and competitiveness in resource allocation. The conclave is expected to serve as a catalyst for accelerating investment, innovation, and inclusive growth in the mineral and coal sectors of the North Eastern Region, in alignment with the vision of Viksit Bharat.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store