The Hindu Business Line : India elected to global mining forum

New Delhi, Sept. 27 India has been elected to the 38-member Intergovernmental Forum on mining, minerals, metals and sustainable development which was formed five years ago.

The announcement was made after the annual general meeting of the Forum held at Geneva recently.

“This is an important Forum that debates on the issues that concern the mining industry and how countries can adopt new practices to grow the industry. In this backdrop, India’s election is significant as the New Mineral Policy is being finalised and has the potential to attract a lot of foreign investment once it is approved,” a senior official in the Mines Ministry told Business Line.

The Forum has evolved from the global dialogue process launched at the World Summit on Sustainable Development in Johannesburg in 2002.

“Apart from being elected to the Forum, India has also found a place in the executive committee which is formed by seven member countries,” the official said.

Until now, Canada was discharging the functions of the secretariat, but this now has been handed over to the UK. Apart from India and the UK, the other members of the executive committee are Ethiopia, Brazil, Romania, Canada and Kazakhstan.

“Since mining investments tend to be large, taking place in remote areas where the local communities are often outside the economic mainstream, the need for sustainable development becomes very important and this is one of the focus points of the Forum. Apart from this, issues on scientific methods of mining and mine closure, new technologies and useful issues of this nature are discussed at the Forum,” the official said.

Mining major

The official added that India is now being considered as a mining major by other countries and most of them are eagerly waiting for the new policy.

“Most of the major mining companies are already present in India but have not made any major announcements. But this would change once the new policy is in place. The Forum will also help good practices to be followed by mining companies in various places,” the official said.