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Our Bureau

Awaits Centre's nod for Jindal Aluminium project

Hyderabad May 1 The Andhra Pradesh Mines and Geology Ministry has set an ambitious target of realising revenues of Rs 1,750 crore during 2007-2008.

This follows a 27 per cent growth in mining revenue during 2006-2007 at Rs 1,363 crore up from Rs 1,075 crore during 2005-6. In three years, revenues from mining have shot up from Rs 750 crore to Rs 1,363 crore in the last fiscal.

Mining Sector

Addressing a press conference here today, the State Mines and Geology Minister, Ms Sabita Indra Reddy, said that the revenues could have been much more than what was achieved but for Supreme Court Directive on mineral cess on mineral bearing lands (MBL) belonging to Oil and Natural Gas Corporation and in the iron ore sector.

Despite these issues, the revenue from the mining sector was up by 27 per cent due to contributions from coal and limestone, which contributed Rs 313 crore and Rs 140 crore repectively.

Road metal contributed Rs 215 crore. The decision to collect MBL yielded Rs 123 crore.

In addition, the State Government move to transfer sand from the Panchayati Raj to mines and geology department added about Rs 48 crore.

The State also charted out a sand policy outlining how to take up sand mining.

Of the 5,731 applications for mining lease, 2,285 were granted lease rights. These include 42 gold and diamond mining licences.

In addition the department has decided to offer sand free for the `Indiramma housing scheme'.

The State had sent a proposal for the Jindal Aluminium project and is awaiting Centre's nod to go ahead with the project.

More Stories on : Mining & Quarrying | Andhra Pradesh

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