PPP models need to be explored for mining exploration: Shri. Piyush Goyal

Shri Goyal said that the time was ripe to reflect on where we had gone wrong and suggested a PPP model could be tried out for giving a fillip to mineral exploration. He urged FICCI to set up a committee comprising young mining aspirants to develop a position paper to speed up exploration activities. This committee should look at innovative ways to bring down the time of actual operation of mine after it is put up for auction, thus enabling the sector to make a quantum jump.

Addressing the industry’s concerns, the Minister said that high value, strategic and import substitution minerals were the priority minerals for exploration for making India self-sufficient in minerals. Shri. Goyal said that Young person’s specializing in mining could be invited to India and a system could be worked out to benefit all the stakeholders.

He assured the industry that the issue of wide differences in stamp duty in various states would be addressed by the Government in consultation with the State Governments. Also, mapping would be undertaken and data on minerals would be updated for making an accurate assessment of mineral reserves in the country.

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