PSUs to invest over Rs 10 K Crore in mining sector

Public sector units (PSUs) such as Nalco and Hindustan Copper Ltd have proposed to invest more than Rs 10,000 crore in the mining sector. As per data provided by Minister of State for Steel and Mines Vishnu Deo Sai in a written reply in the Rajya Sabha, aluminium maker Nalco, Hindustan Copper Ltd and Mineral Exploration Corporation Ltd (MECL) have proposed an investment of Rs 10,037.50 crore in the mining sector. It includes Nalco’s investment in Pottangi bauxite mines and Utkal D&E coal blocks in Odisha and Hindustan Copper’s in copper mines in Jharkhand and Rajasthan.

In a separate query on illegal mining, the minister informed the House that a total of 533 FIRs have been filed between 2012-13 and 2015-16 (till January) regarding illegal mining in the company. Besides, a total of 635 complaints have been lodged in 2012-13 and the first 10 months of the current fiscal.

State governments are empowered, under the Section 23C of the Mines and Mineral (Development and Regulation) Act, 1957 (MMDR Act), to make rules for prevention of illegal mining, transportation and storage of minerals.

Did You Know?

  • International Day of Mine Awareness and Assistance in Mine Action is observed on 4th April. 
  • On December 2005, the General Assembly declared that 4 April of each year shall be observed as the International Day for Mine Awareness and Assistance in Mine Action.

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