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Time of India
16 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.
Hans India
4 days ago
- Business
- Hans India
India's mining sector globally competitive
New Delhi: Minister of Coal & Mines G Kishan Reddy has stated that the mining sector has, over the last decade, witnessed an era of unprecedented reforms, marked by transparency, efficiency, and ambition. 'The first step towards this goal was to rid the sector of outdated policies that hindered private enterprise. Since the introduction of the auction regime, over 500 mineral blocks have been auctioned to date and 119 have been auctioned just in the last year alone,' according to an article by the minister released on Monday. The amendments carried out in the Mines and Minerals Development and Regulation Act (MMDRA) between 2015 and 2023 have laid the foundation for a dynamic and globally-competitive mining sector.'More changes are in the offing as the MMRDA drives our foray into critical minerals that aim to provide for the trinity of our national, energy, and food security,' Reddy said. As part of the economic reforms underway, he cited the example of India auctioning its first-ever potash block to enhance domestic fertiliser production and reduce dependence on costly capacity has been augmented with the risk taking capabilities and agility of the private sector as they have emerged as an equal partner in this journey. Be it the uniform 50-year leases, removal of renewal bottlenecks, seamless transfer of clearances or the introduction of an exploration licence regime that has created space for the MSMEs and opportunities for start-ups to scale, the past distrust with India's entrepreneurs has been replaced with an enabling environment for them to flourish, the minister further stated. The unprecedented financial thrust through the National Mineral Exploration Trust, democratic access to more than 12,000 geological reports on the National Geoscience Data Repository, drone surveys, Mining Tenement System, and faceless return filings, all have brought predictability and investor confidence to the sector, Reddy observed. Now, with the launch of the National Critical Mineral Mission (NCMM) India is set to carve a space in the global critical minerals minister said that a thriving circular economy around critical minerals like lithium, cobalt, nickel, Rare Earth elements, etc., will prove to be the shot in the arm for almost every sector essential for a 'Viksit Bharat'.
Time of India
04-06-2025
- Business
- Time of India
Focus on more exploration, mines dept's revenue grows
Jaipur: State's department of mines and geology earned Rs 1,306.44 crore in revenue during the first two months of the current financial year, an increase of Rs 57.71 crore compared to the same period last year. According to officials, strict enforcement against illegal mining and full recovery of penalties from violators contributed to this strong start. A senior official said, "Field officers have been directed to enhance their presence to improve coordination with stakeholders, curb illegal activities, and generate both revenue and employment." To enhance revenue, the department is also focusing on mineral exploration. Agencies from both Union and state govts, as well as private sector, are being engaged in exploration. Officials said 35 private agencies were registered under National Mineral Exploration Trust (NMET) and 20 of them have already begun operations in various states, including Rajasthan. Rajasthan was last year recognised as the most progressive in the mining sector for auctioning the highest number of major mineral blocks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 임플란트 최대 할인 지원해드려요 임플란터 더 알아보기 Undo An official highlighted that the Union govt has launched National Critical Minerals Mission to promote exploration, mining operations, processing, and recycling. Support for research and development is being provided through NMET funding, along with incentives for companies involved in mineral processing and recycling. "Although Rajasthan leads in the auction of major mineral blocks, delays in operationalising these mines due to regulatory clearances remain a challenge," the official said. Jaipur: State's department of mines and geology earned Rs 1,306.44 crore in revenue during the first two months of the current financial year, an increase of Rs 57.71 crore compared to the same period last year. According to officials, strict enforcement against illegal mining and full recovery of penalties from violators contributed to this strong start. A senior official said, "Field officers have been directed to enhance their presence to improve coordination with stakeholders, curb illegal activities, and generate both revenue and employment." To enhance revenue, the department is also focusing on mineral exploration. Agencies from both Union and state govts, as well as private sector, are being engaged in exploration. Officials said 35 private agencies were registered under National Mineral Exploration Trust (NMET) and 20 of them have already begun operations in various states, including Rajasthan. Rajasthan was last year recognised as the most progressive in the mining sector for auctioning the highest number of major mineral blocks. An official highlighted that the Union govt has launched National Critical Minerals Mission to promote exploration, mining operations, processing, and recycling. Support for research and development is being provided through NMET funding, along with incentives for companies involved in mineral processing and recycling. "Although Rajasthan leads in the auction of major mineral blocks, delays in operationalising these mines due to regulatory clearances remain a challenge," the official said.
