The National Mineral Policy (NMP) 2019 can increase domestic mineral production multi-fold according to A K Nayak, Joint Secretary at the Ministry of Mines.
Nayak was speaking at the National Mineral Policy 2019 – A Landscape of New Opportunities’ conference, organized by FICCI, jointly with the Ministry of Mines. He said, “The new policy is a very fine document, but it is up to all of us to make it a blueprint for action. Unless there is complete synergy among all stakeholders like industry, Central and state governments, regulators, it would be very difficult to make a headway.”
He said that the policy focuses on raising the share of mining in the country’s GDP through large scale exploration with priority to deep-sea minerals and by assisting in getting the necessary clearances. “The NMP talks of increasing mineral production by 200 per cent in seven years. It also talks of reducing the trade deficit in mineral sector by 50 per cent in seven years,” Nayak said.
The new policy has pitched for exclusive mining zones having in-principle statutory clearances and intergenerational equity, among others. Inter-generational equity is basically responsible and sustainable mining so that we don’t exhaust all our reserves and leave nothing for the future generation, he added.