Interesting Trends in the Indian Metal and Mining Sector In the modern world, no industry can function properly without adequate sources of minerals. Be it coal or iron core or any other mineral, it becomes easier for any industry to function with an immediate supply of raw materials including metal and non-metal ores. For example, a mining company in Barbil can provide the nearby industrial sector with all their raw materials. It would not only be significant for production in the already existing industrial chain but also give rise to new small-scale industries all over the region. This is one of the grave reasons why the country is stressing on the domestic production of minerals instead of importing the lot. But, that aim can only be achieved if a number of factors comply, like, more exploration funded by the Geological Survey Of India, extended leases of mining grounds, increased optimization of technologies, profitable allowance with the key players in global and domestic mining and more. While the Government is okay with all these advancements, the private sectors should start contributing more toward this development. It is for the benefit of all.
Coming to the present scenario, a few trends have been noticed in the metals and mining sector that may give a kick-start to the development of India as a self-sufficient mining sector. Let us get an idea about these trends to see where exactly do we stand now:
A Few Important Trends in the Indian Metal and Mining Sector Longer Leases – The last few years have witnessed a significant increase in mining leases all over India. With the Government granting leases extending to about 20-30 years, the country has seen a rise in mineral production as well. Demand For Domestic Market – India is one of the main importers of metals. Therefore, a growth in demand for the domestic market has risen drastically in the recent years. Venturing Overseas – A number of mineral companies in India are joining hands with the overseas market to export minerals, especially coal. They are looking forward to establishing secured long term supplies of coal and other minerals like iron-ore. For example, the Coal India has been planning to export 10 MT of coal from Mozambique to India within the following 10 years. On the other hand the Adani Enterprises are all set to start constructing their Carmichael mine worth USD 21.7 Billion by the middle of this year. Metals and minerals have always played a huge role in the country’s economy. Be it a coal mining company in Barbil or a mere Indian crushing company, you can tie up with one or more to ensure smooth functioning of your industrial sector. In the financial year 2016, the country witnessed the index of mineral production at 148.8 and the total value of the same at USD 3.41 Billion. This is indeed a good sign but, we need to go further in the development of our domestic market. We should boost the rise of more and more mining companies to enhance the growth of mineral production in the country. If we can do that in a few years, the demand will be met with little or no help from foreign resources. That will be the true meaning of self-sufficiency. Read the full article- http://www.naaraayani.com/interesting-trends-in-the-indian-metal-andmining-sector/
-----------------------------Naaraayani Minerals Main Road, Barbil, Dist. Keonjhar Odisha – 758035. India Phone: +91-6767-276511 Mobile: +91-983-0702774 Email: info@naaraayani.com Website: www.naaraayani.com