Mining industry updates

The 3rd meeting of the Geoscience Advisory Council, the highest policy-planning forum to advise the Ministry of Mines and the Geological Survey of India in the matters of earth sciences was held under the Chairmanship of Union Minister of Mines at Vigyan Bhawan Annexe, New Delhi on February 27, 2013. Referring to the importance of mineral wealth in relation to natural resources, the Minister requested the scientific community to suggest new areas and techniques for locating new and big mineral deposits. MECL is a premier public sector enterprise responsible for exploration of all major minerals like coal, lignite, iron-ore, copper, zinc, and limestone. The Indian consortium led by SAIL has proposed a revised project of 1.2 mtpa finished steel and 2.5 mtpa iron ore at an estimated outlay of Rs. 13,057 crores and is in the process of negotiating with Afghan Ministry of Mines and Petroleum (MoMP) for signing the revised mining contract accordingly.