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With interest from global and Indian mining majors growing, the AP Mineral Development Corporation (APMDC) has decided to once more extend the last date for submitting the Expression of Interest (EOI) floated by it for exploiting the heavy beach mineral sands of Srikakulam district to July 10.
The decision was taken at the first interactive, pre-bid conference here on Wednesday, which was attended by a dozen top Indian and global mining and minerals firms.
Indian Rare Earths, IFFCO, Essel Mining (AV Birla Group), VV Minerals, Transworld Garnet, Trimex, Dharti Dredging and Infrastructure Ltd., Satyavathi Minerals and Metals, Savior Mines & Minerals Pvt. Ltd., Subramanyam Meka Group and PSK Infrastructure & Projects Ltd. were among the participants.
The State-owned Corporation wants the setting up of an integrated project for development of heavy mineral beach sands in a joint venture. It covers exploration and mining, mineral separation, as well as value-added plants.
In the JV, the Corporation will contribute to the equity in the form of mining leases, both land-owned and acquired, and sweat equity for facilitating various statutory clearances, in addition to equity infusion. The previous last date was June 19.
Replying to queries from companies about the status of the mining leases, V Girija Shankar, VC & MD of the Corporation said the Centre has only given in principle approval, subject to approval of mine plan and EIA clearance within December 2016 as well as no objection certificate from the State. He said the Corporation was confident it would get clearances and it was not a matter of concern.
On land usage, holding pattern and encroachments, the Secretary, Department of Industry and Commerce, Rawat assured that since the Corporation would be part of the Joint Venture projects, with 75 fper cent share in the mining, it and State would ensure that land acquisition is carried out expeditiously, official sources told BusinessLine .
According to existing rules, the Corporation has to hold a 75-per cent equity, while in the mineral separation and value addition, the private partner can hold a majority stake. A separate special purpose vehicle and equity structure can also be worked out.
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