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‘Removing distinction between captive and non-captive mines will allow sale of surplus minerals’

Our Bureau New Delhi | Updated on August 11, 2020 Published on August 11, 2020

Removing the distinction between captive and non-captive mines will allow the sale of surplus unused minerals, according to Pralhad Joshi, Minister for Mines, Coal & Parliamentary Affairs.

Joshi was speaking at a webinar on the Indian Mining Industry, Contribution Towards Atmanirbhar Bharat.

“We have also removed the distinction between captive and non-captive mining leases. Such removal of distinction between captive and non-captive mines would allow the transfer of mining leases and sale of surplus unused minerals, leading to better efficiency and production in the sector,” he said.

“It will also ensure increased raw material availability for the end use industries. This removal of distinction is a huge relaxation and will lead to increased M&A in the mining sector, while creating new opportunities for the stakeholders. Also, removing the distinction would boost downstream value-addition in the sector, improve transparency and would enhance mineral & metals sector for contribution to the GDP, as a whole,” he added.

The webinar was organised by the Federation of Indian Chamber of Commerce and Industry.

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Published on August 11, 2020
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