Dr. Anup K. Pujari, Secretary Ministry of Mines confidently addressed the Stakeholder’s conference on the “Revival of Mining Industry” organised by the Confederation of Indian Industry in collaboration with TERI in New Delhi today, acknowledging that it was an undeniably exciting time for India, with high expectations following fast on the heels of a new government coming into power.
Mr. Tom Albanese, CEO, Sesa Sterlite Ltd, while highlighting the present limitations of the industry, compared it to the Oil and Gas Industry and provided the attendants with successful framework on which the mining industry should be modelled to attract more capital, skill and cutting edge technology.
He brilliantly put into context the potential of the Indian Mining Industry by comparing it with those of China and Australia. What China lacked in supply, it makes up in demand and what Australia lacked in demand, it makes up in supply.
“What we have in India is a mining sector with resources similar to that of Australia with a market similar to that of China.” He stressed on the importance of having a Robust and transparent policy and the need to aspire towards the technological advances of Australian Mining Practices.
“A comprehensive mining legislation, one which is broadly in sync with the vision of society and the government is the need of the hour.” Mr. S. Vijay Kumar, Distinguished, Fellow, The Energy and Resources Institute. “All legislations are intelligent compromises, based on ground realities. In this case the realities include globalisation of resources, technologies and funds, resource sub-nationalism, environmental and social concerns, effective regulation and good governance.”
Development and growth of the mining sector was not the only thing on the agenda today. Dr Ashok Khosla, Chairman, Development Alternatives, provided a holistic understanding of the need to maximize market opportunity and competitive advantage while minimizing operational costs and strategic risks. “The future legislations would need to take in a broader perspective. We NEED to change the way we use resources.” Prompting the delegates to think about how to create sustainable jobs while dealing with finite resources in a highly consumptive world.
“Modern governance can solve many problems, by bringing in technology, knowledge and innovative organizational methods. Such modern governance however also demands participation of civil society organizations and non-governmental organisations or NGOs or pro-people, pro-development organisations. They must participate in development not through what should not be done, but through finding out what can be done for the people.” Stated, Mr. Suresh Prabhu, Chariman, Council on Energy Environment and Water, in a statement read out to those attending the conference since he could not physically be present his viewpoints in person.
“Mineral investment is a risky investment and requires a stable and coherent regulatory regime. It also requires good governance and sustainable practices to ensure success. Adherance to prescribed timelines, transferability of licenses for profit, and creating a seamlessness in licensing from one mining stage to another are just a few of the short term changes the industry can make.” Dr. Nik Senapati, Chairman, CII National Committee on Mining and Managing Director Tinto India Private Ltd.