New mining policy coming soon

New Delhi, June 29 (UNI) With the aim of removing procedural hassles for investments , the government will soon come out with a new mining policy presently being given final touches by the Planning Commission, Mining Minister Sis Ram Ola said here today.

Mr Ola also announced that his Ministry had signed an MoU to attract investments in the domestic mining sector from countries like Australia, Canada, China, Iran, South Africa, Mozambique and Kazakstan. These countries have in principal agreed to transfer their technological know-how to India to adequately exploit the potential of domestic mining sector.

The Minister also said that the Ministry, in collaboration with the Geological Survey of India has been undertaking an effective mapping exercise of potentially mineral-bearing areas. The findings of which would also be made public so that potential investors know of it and come forward forv exploration of such areas in near future.

He was speeking at a summit organised by ASSOCHAM on ''Indian Metal&Mining Industry''. The summit was an effort to bring the government and the entrepreneurs for an interface so that they could jointly explore issues and hurdles relating to the mining sector.

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