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The Mines Ministry has initiated discussions with industry stakeholders to decide on whether to comprehensively amend the Mines and Minerals Development and Regulation (MMDR) Act or to bring in a completely new legislation.
On Thursday, the Steel and Mines Minister Narendra Singh Tomar met with a delegation of the mining industry represented by the Confederation of Indian Industry.
The meeting was attended by Sesa Sterlite’s chief executive Tom Albanese, Rio Tinto’s India chief Nik Senapati, Steel Authority of India Ltd’s Chairman and Managing Director CS Verma amongst others.
The industry discussed on issues on changes in the MMDR Act, removal of a 30 per cent export duty on iron ore, renewal of mining leases amongst other issues.
Meanwhile, the Federation of Indian Mineral Industries has also sent a letter to the Mines Minister asking for a removal of the export duty.
“In order that the resources are fully utilised, without detriment to the domestic steel industry, it is imperative to make Indian exports competitive by withdrawing export duty completely,” said FIMI in its letter to the Minister.
Iron ore exports have fallen to 14.42 million tonnes in 2013-14 from 62 million tonnes in 2011-12. Iron ore mining bans in Karnataka, Odisha and Goa over the last couples of years has also resulted in domestic iron ore production falling to 129 million tonnes in 2013-14 from 213.25 million tonnes six years ago.
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