Revamp the taxation structure applicable to the mining sector in India; reduce the “widespread instances of corruption prevailing in the administration” of mining rules and regulations through “technology-based monitoring approach
NEW DELHI: The mines ministry today said it has no plans to cap the prices of iron ore as there is no shortage of the key steel-making raw material. It also said the country is looking at expanding the iron ore production and that will take care of market dynamics. “There is no shortage of […]
The country’s mineral output from mining and quarrying sector grew by 9.7 per cent in March 2017 and total value of production stood at Rs 26,350 crore.
Indian sponge iron or direct reduced iron (DRI) manufacturers are facing an acute shortage of iron-ore despite the government liberalising norms for the allocation of iron
The main objective of this system is to bring all mines to minimum 4- or 5-star rating in the shortest possible time. Everything is transparent and can be accessed in public domain. All mines in India should necessarily have a four-star rating and the government as a facilitator would help them reach the desired level.
The star rating system, that rates mines out of five stars, is a two-layered system based on a self-evaluation by the mine operator. The rating is based on various indicators including social, economic and environmental parameters and under the template developed by IBM, all these parameters carry certain weightage. Based on self evaluation, points are awarded to the party. Those getting above 90 marks on a scale of 100 will get 5-stars and those getting between 80-90 points get a 4-star rating. This system is aimed at creating a healthy competitive environment amongst mining companies as this system recognises good performers while encouraging others to compete and strive further for excellence
The minister said two new mobile apps on the coal and mining sectors will also be looked at to provide information in a transparent manner as also to impart accountability to the system comprising of companies and the central and state governments.