West Bengal Finance Minister, Amit Mitra, yet again pitched the State as an attractive destination specifically for the mining and exploration sector.

Speaking at the International Mining & Machinery Exhibition and Global Mining Summit 2016, the finance minister pointed out that apart from mining and exploration companies, equipment-makers can explore options of setting up shop here.

“There are huge opportunities in the mining and exploration sector and the State government is ready to help those investing here,” he said during the inauguration of two-day summit.

He, however, made it clear that environmental parameters have to adhere to by investors.

Coal Mining

Highlighting the prospects in the sector, Mitra referred to the Deaocha Pachami coal block. Claiming it to be the world's second largest reserves with two billion tonne and shared by six entities including Bengal.

“It is for you all to connect with this possibility,” he said.

Mitra informed that West Bengal Power Development Corporation Ltd also has four blocks in its possession and mining would be carried out there shortly.

Other Sectors in Mining

The State, through the West Bengal Mineral Trading and Development Coproration, has also tied up with Kudremukh for exploration of iron ore deposits in the Belpahari region in West Midnapore district of the State. Around Rs 50 crore has already been spent in this regard.

“We are looking at six prospective granite blocks and exploration has begun in three, through competitive bidding,” Mitra pointed out.

Around Rs 100 crore has also come in for the State exchequer through auction of 483 sand-blocks.

This apart, policy changes are also being made to aid the sector and investments.

Such changes include not just moving to e-auction formats; but also empowering district magistrates to take action in certain cases.

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