‘AATMANIRBHAR BHARAT’ IN MINING SECTOR

‘AATMANIRBHAR BHARAT’ IN MINING SECTOR

Ministry of Mines has taken various steps for increasing the share of domestic mining in total mineral consumption by increasing mineral production and to make ‘Aatmanirbhar Bharat in the mining sector’. The Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act, 1957) was amended with effect from 28.03.2021 with the objective of inter-alia increasing mineral production and time bound operationalization of mines, increasing employment and investment in the mining sector; increasing the pace of exploration and auction of mineral resources. Some of the key amendments include removing end-use restrictions for auction of mines, allowing captive mines to sell up to 50% of minerals produced during the year after meeting the requirement of linked plant and removing restrictions on transfer of mineral concessions.

The MMDR Act, 1957 was further amended through the MMDR Amendment Act, 2023 with effect from 17.08.2023 with the objective of increasing exploration and production of critical and deep-seated minerals which are essential for the advancement of many sectors, including high-tech electronics, telecommunications, transport and defence.

As a result of the reforms implemented by the Central Government, a total of 385 mineral blocks have been auctioned in the country since the introduction of auction regime in 2015. Out of these, 50 mines are already in production.

These amendments have been instrumental in augmenting the production of key minerals for example, the production of iron ore has increased from 129 million tonnes in 2014-15 to 258 million tonnes in 2022-23 and the production of limestone has increased from 295 million tonnes in 2014-15 to 406 million tonnes in 2022-23.

The gross value added (GVA) of the mining & quarrying sector accounts for 2 percent of the country’s GDP. The contribution of mining & quarrying sector in value terms has increased from Rs. 2,90,411 Crores in 2014-15 to Rs. 3,18,302 Crores in 2022-23.

This information was given by Union Minister of Coal and Mines Shri G. Kishan Reddy in a written reply in Rajya Sabha today.