· The two-day ‘Global Mining Summit’ kick-started alongside the four day ‘International Mining & Machinery Exhibition’ with the primary objective of bringing back the momentum back in the mining sector with a specific focus on exploration, technology, policy frameworks and emerging business opportunities in the Indian mining and coal sectors.
· Organised by the Confederation of Indian Industry (CII) in association with the Union Ministry of Mines, Coal and Steel, supported by Coal India, speakers at the summit called for deeper and stronger synergies between global industry players in this sector.
· The new Government’s primary focus is on “Bringing back the Momentum in mining”, said Dr Anup Kumar Pujari, Secretary to the Union Mines Ministry at the inaugural session of the Global Mining Summit. This is in sync with the theme of the Global Mining Summit 2014.
· Dr Pujari sought suggestions from industry leaders to help the Government bring in effective amendments to the Bill. “Any Government is expected to provide a stable, predictable and efficient policy. Your suggestions will help us to formulate a practical and investor friendly Bill,” he said.
Contrary to the common perception among the public that there a lack of procedural and allotment transparency in Government operations, the Government is trying to “unbundle the NMDR Bill by categorising the minerals into notified and non notified segments and auctioning of licenses at once. The amendments will also help to set up a tribunal by the state government to fasten up procedural delays, he said.
“We are trying to incorporate two changes. Firstly to set up a time limit for the auctioning and secondly in cases where the state government does not respond to any proposal, provisio’ns will be introduced to approach the Central Government directly. He believes that exploration can give the right impetus to growth of this sector,” Dr Pujari explained.
Dr Pujari added that in times to come signed approval from the secretaries and ministers would not be required for mineralisation process as Environmental and Forest clearances will suffice. “It would be unjust to compare India with mining giants such as the USA, Russia or Australia as India has much critical issues like land availability unlike others.” Dr Pujari ended his speech on an optimistic note saying that mining sector would bounce back in the coming years.
· Mr Narendra Kothari, Chairman-cum-Managing Director, National Mineral Development Corporation, said NMDC is set to increase production by 70% within the next 10 years. “We understand that minerals are the backbone of the society. But India has a low per capita mining consumption. Development of infrastructure and R&D needs to be given a priority. “NMDC has plans to start extensive exploration process’ said Mr Kothari. He said that the Government has launched very ambitious projects and schemes which if achieved will benefit the country in a significant way. NMDC which produced 30 million ton iron ore last year and intends to take to 100 million ton within next 10 years.
· CII-McKinsey Report Putting India on the growth path: Unlocking the mining potential was released at the event.
· Mr Sumit Mazumder, President Designate, CII &Chairman and Managing Director, TIL Ltd, pointed out that, ‘Our economy is on revival mode. Lots of positive steps are being taken for revival of this sector.” He pointed out six key areas that provides impetus to the sector. These are implementation of the recommendations of the Hoda Committee, streamlining of the clearance process, simplification of renewals and extension processes, acceleration of private sector participation and increase in exploratoion budget and simplification of land acquisition process. Mining to play a pivotal role in driving GDP growth of the country. He added that a special buyer-seller Meet between major Indian mining companies and mining construction equipment manufacturers will be organised to facilitate deeper interactions.
· Mr Rajive Kaul, Past President & Chairman Trade Fair Council, CII said India possesses huge business opportunities for the global market. The contribution of India’s mining sector can be substantially enhanced using platforms such as the Global Mining Summit that can be used as a launch pad for new and innovative technologies thus enhancing business prospects manifold.
· Dr Nik Senapati, Chairman, CII National Mining Committee & Managing Director, Rio Tinto, welcoming the participants commented that “It is important to put the mining sector high on agenda, because this is a sector which is directly instrumental to the country’s growth.”. In view of the lacklustre performance by the mining sector, India needs to focus on strengthening its knowledge base. Industry must come forward with their knowledge help overcome the crisis. He said. “tThe much-awaited changes are currently being debated on the form of the MMDR (Amendment) 2014. Any amendment is acceptable as long as the sector remains viable and has long term prospect”.
· Mr V K Arora, Chairman, CII Mining & Construction Equipment Division; mentioned that though mining is not in its best times it is beginning of a new future.as policy reformation has started taking place.
· Mr Rajat Gupta, Partner, McKinsey said the only way to make the “Make India Campaign successful is to increase the contribution of the mining sector. The mining sector is not only a major employment provider but also ensures the country’s mineral security. An increased capacity of this sector will result in reduced current account deficit. While dissecting reasons for the ongoing crisis, McKinsey has cited that much of the mineral resources are still unexplored and untapped. Some of the initiative that are required to be taken are external stakeholder management, ramping up coal production from existing coal blocks etc.
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