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Dear Colleague,
Greetings!! Here is an old saying "if it is not grown, its mined". Mining of minerals and other natural resources is essential for human progress. It is important for us to know that everything we use in our everyday lives say from food to computer requires mining materials. Most of the food we eat is grown with fertilizers which are made up of minerals that are mined. Mining is considered to be one of the three wealth creating activities, the other two being farming and manufacturing.
Minerals are back-bone of economic growth of any nation and our country has been eminently endowed with this gift of nature. There are many evidences that exploitation of minerals like coal, iron-ore, copper, lead-zinc has been going on in the country from time immemorial.
Mining industry in India is a major economic activity which contributes significantly to the Indian economy. The GDP contribution of the mining industry varies from 2.2% to 2.5% only but going by the GDP of the total industrial sector it contributes around 10% to 11%. Even mining done on small scale contributes 6% to the entire cost of mineral production. Indian mining industry provides job opportunities to around 8, 00,000 individuals.
According to India Mining Report Q2 2012, Indian mining industry market is set to attain a size of US $36.2 bn by 2016. Our country hosts a wide range of globally significant mineral resources, including: four fuel minerals (such as coal and uranium); 11 metallic minerals (such as iron); 22 minor minerals; and 52 non-metallic minerals (such as clay).
The country ranks among the world's top five nations for its core comp India is the world's third-largest producer of coal, fourth-largest producer of iron ore and the fifth-largest producer of bauxite. However, only 10% of the country's landmass has been explored due primarily to significant regulation and bureaucratic obstacles.
The 2011 Mines and Minerals Development and Regulation (MMDR) Bill allows for the granting of non-exclusive reconnaissance licenses and high-tech exploration licenses based on ability and intention to develop an area. The new bill also calls for a system for bidding licenses, which can create a market for these licenses, increasing transparency. A negative for the proposed MMDR bill will be the additional taxes to be levied for community development.
An informative handbook offering a comprehensive overview of the Mining Industry has been attached for your reference. I am happy to invite readers to participate & write book on any of the 118 industry.
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