Page 40 - Mines and Minerals Reporter eMagazine - Volume October 2021

NEWS DESK

Plans to expand its mining capacity Govt looks to further amend
from 1.2 to 1.5 Million tonnes. The MMDR Act
Vedanta Ltd unit’s underground
mining equipment would be as
much as 900, compared with 600- T his comes against the backdrop of National Mineral Policy goals to
700 now, following the capacity increase mineral production by 200% in 7 years.
expansion. The union government is exploring further amendment to the Mines and
Minerals (Development and Regulation) (MMDR) Act to bring in more re-
Hindustan Zinc forms in India’s mining sector, said Coal, Mines and Parliamentary Affairs
minister Prahlad Joshi on Wednesday.
metal production The government earlier introduced a raft of mineral sector reforms, in-
rises 4% to 248000 cluding doing away with the distinction between the captive and non-cap-

tonnes in Q2 tive mines, reallocation of nonproducing blocks of state-owned firms, and
amended some sections of the MMDR Act to help auction more mines.

industan Zinc Ltd’s mining produc- “Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad
tion increased by 4% to 248,000 Joshi has said that Ministry of Mines is contemplating further amend-
Htonnes in Q2 of the current ment to the Mines and Minerals (Development and Regulation), MMDR
financial year, as against 238,000 tonnes Act to bring about tangible reforms in the mining sector of the country,"
a year ago, due to higher ore production mines ministry said in a statement.
at Rampura Agucha, Sindesar Khurd
and Zawar mines supported by im-
provement in recovery which has been
partly offset by lower mining grade. Zinc
production was 162000 tonnes, down
10% as compared to Q2 FY21 and down
by 14% compared to Q1 FY22. Lead
production was 47000 tonnes for Q2
FY22 and down 18% as compared to Q2
FY21, on account of annual shutdown at
Dariba Lead smelters and down 4% as
compared to Q1 FY22.

ICRA increases GDP
growth forecast to 9%

he Indian economy will grow This assumes significance given that the mineral sector contributes only
9% in fiscal year 2021-22(FY22),
Tthanks to better prospects in the 1.75% to the country’s gross domestic product (GDP), with India import-
ing minerals worth ₹2.5 trillion annually. The union mines ministry has
second half, ratings agency ICRA said, also adopted the scheme for accreditation of private exploration agencies
in an upgrade of its previous estimate for prospecting minerals.
of 8.5%. “The widening coverage of
Covid-19 vaccines is likely to boost “He urged the mining sector to increase the contribution of the sector
confidence, which will in turn re-en- to the country’s GDP to 2.5 per cent. Addressing a function organized
ergize demand for contact-intensive by the Ministry of Mines here today for handing over 100 G4 mineral
services, helping to revive the portions blocks reports of Geological Survey of India (GSI) to different State Gov-
of the economy affected most by the ernments, Minister Joshi stated that Ministry of Mines is in the process
pandemic.
of finalizing the accreditation process for private exploration entities,"
the statement added.

38 MINES & MINERALS REPORTER / OCTOBER 2021