Mining Indaba-2015 is being held at Cape Town in South Africa. Union Mining and Steel Minister Narendra Singh Tomar is leading the Indian delegation, which comprises Madhya Pradesh’s Mineral Resources Development Minister Rajendra Shukla, officers from States and representatives from various States. During the 3-day event, Tomar inaugurated Indian Pavilion on Wednesday.
On Tuesday, the Union Minister held discussions with representatives of various countries at the Indaba over better exploration and tapping of mineral resources. Tomar discussed minerals business with Zambia’s Economics and Trade Minister Margaret Mhango Mwanakarwe. Tomar said that India, specially Madhya Pradesh has immense natural resources including best quality coal. later, he held bilateral discussions with Mines, Industry and Energy Minister of Equatorial Guinea Gabriel Mbaga Obiang lima over mutual cooperation in reconnaissance and trade of mineral between both countries. MoUs were also singed with these countries for exchange of advanced technology for reconnaissance. A broad consensus was reached during Union Minister Tomar’s meeting with these countries’ Ministers on revival of Joint Permanent Committee and mutual exchange of business and official delegations.
During discussions with Minister of both the countries, Tomar informed that amendments have been made in mining laws and rules in India. Allotment of mines through auction has become easy as well as transparent. Apart from simplification of rules, period of lease has also been increased from 30 to 50 years. The new Central Government in India has delegated greater powers to state governments regarding mines. Tomar urged the delegation for continuous discussions with India over mining and exchange of events and information technology. Tomar also informed about strategy being adopted by multinational companies in mineral exploration.
During discussions, Madhya Pradesh’s Mineral Resources Minister Rajendra Shukla attracted investors at this global level event. He informed that private-public participation is being encouraged in development of mineral resources in Madhya Pradesh. Reconnaissance permits have been issued to multinational companies in 92 thousand square kilometer area in the state. Coal-bed methane is also available in Madhya Pradesh abundantly. He also informed the delegations about new mining policy of Madhya Pradesh.