5 days ago
‘Vidarbha may emerge as steel hub for Asia in coming decade'
Nagpur: Vidarbha may emerge as a steel hub not only for India but for the entire Asia in the coming decade, said PN Sharma, controller general of the Indian Bureau of Mines (IBM). The IBM, headquartered in Nagpur, is the apex regulatory agency for the mining sector, with a mandate to approve mine plans and monitor the operations of mines, excluding those for coal and petroleum.
Sharma was optimistic about the recent push for iron ore mining in Gadchiroli, which he said would eventually create an ecosystem conducive to the steel industry, attracting a variety of players.
He was speaking at a seminar titled 'Indian Mining: Present Scenario and Future Perspective' on Friday. Speaking to TOI on the sidelines of the event, Sharma said that once the iron ore reserves in Gadchiroli are fully established, as much as 40% of the country's supply could come from the district.
He also lauded the efforts of Lloyds Metals and Energy Limited (LMEL), which operates a 25 million tonnes per annum (MTPA) capacity mine in Gadchiroli, for its bold initiative in taking up beneficiation of banded hematite quartzite (BHQ).
"BHQ is the lowest grade of iron ore found in mines. With only 32% iron content, it was generally written off by mining companies as waste. However, LMEL has undertaken beneficiation, raising its iron realisation to 65%.
Now, a host of other players are expected to follow suit," Sharma said.
Pankaj Kulshrestha, chief controller of mines at IBM, also addressed the seminar and expressed concern over the slow pace of mine development in the country.
"Out of 500 mine blocks auctioned across the country, only around 60 have become operational. The delay is due to multiple issues, including land acquisition. Exploration of additional reserves also remains a challenge.
Proven deposits may eventually deplete, so sustained exploration is critical to maintaining future supply," he said.
Kulshrestha also emphasised the importance of balancing development with environmental sustainability. He noted that most of India's mineral reserves are located in dense forests of tribal areas, posing significant challenges for the industry. "Nonetheless, a fine balance must be maintained," he added.
