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Mineral production estimated at Rs 75,121,61 crore doring 2005-06

Written by: Staff

New Delhi, Apr 4 (UNI) The Mineral production in the country during the just concluded financial year ending March 2006 was higher compared to the corresponding period of the previous year, according to the annual report of Ministry of Mines for the year 2005-06.

The total value of mineral production excluding atomic minerals during 2005-06 hafve been estimated at Rs 75,121.61 crore. Of this, fuel minerals accounted for 75 per cent amounting to Rs 56,412 crore, metallic minerals Rs 8,973 crore and non-metallic minerals, including minor minerals are valued at Rs 9,736 crore.

The report, based on the overall trend so far indicates that the index of mineral production (base 1993-94=100) for the year 2005-06 was expected to be 154.23 as compared to 153.48 for 2004-05 showing marginal growth.

The provisional value of export of ores and minerals during 2004-05 was Rs.69,342 crore. Cut diamond was the principal item of export during 2004-05, which accounted for 67.1 per cent of the total exports followed by iron ore 20.1 per cent, granite 3.7 per cent, alumina 1.8 per cent, chromites 1.2 per cent and precious&semi-precious stones 1.1 per cent. Building and monumental stones, emerald, coal (including lignite), marble and bauxite were the other important minerals exported during the year.

The report says the provisional value of import of ores and minerals during 2004-05 was Rs 1,82,710 crore. Crude petroleum was the main constituent of mineral import during 2004-05, which accounted for 65.1 per cent of the total value of imports, followed by uncut diamond 22.9 per cent. Coal, coke, copper ores and concentrate, rock phosphate, sulphur and iron ore were the other important minerals imported during the year.

The report says that the Ministry has formulated a policy paper on the allocation of iron ore mines. A copy of the paper has been placed before the high level committee set up under Anwarul Hoda - member Planning commission for its consideration. The committee would review the National Mineral policy and recommend possible amendments to the National Mineral Development Regulation (MMDR) Act. The terms of reference of the Hoda committee include review of existing procedures for grant of mineral concessions in order to streamline&simplify procedures, prioritise critical infrastructure needs of the Indian mining sector, facilitate investment to meet these needs, identify ways of augmenting State revenues, and allow issues relating to value addition and forest and environment clearance.

The foreign equity holding is now allowed upto 100 per cent on the automatic route for all non-fuel and non-atomic minerals, including diamonds and precious stones. Mineral Concession Rules 1960 (MCR) were amended in January 2005 removing the restriction of minimum area in case of renewal of mining lease, the report said.


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