Heavy Mineral Mining Industry Underperforms Due To 3000 Pending Applications On Mining Leases

Mining Industry Underperforms Due To 3000 Pending Applications On Mining Leases

There are close to 3,000 pending applications for mining leases in the heavy mineral mining industry and these processes slow down the growth of the mining industry in India. http://vvmineralblog.wordpress.com

Recently, at ‘India Mining Summit’, an event organized by ASSOCHAM this issue was discussed in details by people from the mining industry which also included VV Minerals Director,V Subramanian. http://vvmineral.wordpress.com

V Subramanian, director, VV Minerals who represented the heavy minerals industry in the Summit said: "The long drawn and protracted mining lease application process involving 28 ministries and departments at state and central government levels, leading to a total gestation time of more than 2800 days (nearly 8 years) was severely impacting the industry."  http://vvmineralmining.wordpress.com

This is affecting both the development of the mining industry as well as the economy of our country. Private Companies like VV Minerals cannot function properly under such a sluggish system http://vvmineral-mining.blogspot.in

Exports of various heavy minerals are one of most important contributors to the exchequer which is also getting hindered.VV Minerals is the major player in this section that has the highest contribution to the exports of heavy minerals

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Another problem being faced by the mining industry is that of cost and regulatory challenges with specific reference to impact of high excise duties on heavy minerals such as, ilmenite was also discussed in the event by V Subramanian from VV Minerals India http://vvmineralblog.wordpress.com

S.Vaikundarajan, Chairman of VV Mineral has played a pivotal role in bringing the heavy mineral mining industry where it is today. But, somehow optimum utilization of resources is not being carried out due to bureaucracy problems which leaves us behind other countries in terms of trade and business http://vvmineral.wordpress.com

If the mining regulations are revised in India and various processes are carried out timely then this industry can be taken to grater heights. http://vvmineralmining.wordpress.com

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