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Discussion Paper - Exploration And Mining In India: Time For A Deeper Look (English Version).pdf

exploration-mining-india.pdf
Preview of Discussion Paper - Exploration and Mining in India: Time for a deeper look (English Version)
🔗 Source: teriin.org
📊 Size: 669 KB
📄 Pages: 40 pages
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Summary

India has a high geological potential for minerals, but most easily accessible deposits have been located, and there is a need for deeper exploration using latest technologies. Despite this, India ranks low in the Policy Perception Index, Best Practices Mineral Potential Index, and Investment Attractiveness Index. The Mines and Minerals (Development and Regulation) Act 1957 was amended in 2015 to introduce transparency and auctions as the sole mode of granting concessions. However, this has disincentivized private sector investment in fresh exploration, necessary for a steady stream of mineral deposits. Issues with the new approach include subjective and non-transparent auctions, market distortion, and ineffective regulation. The paper suggests using a more robust system of reporting mineral resources, incentivizing market efficiency, and allowing free market forces to determine the use of resources.

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India has a high geological potential for minerals, but most easily accessible deposits have been located, and there is a need for deeper exploration using...

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  • File Format: PDF
  • File Size: 669 KB
  • Pages: 40
  • Language: EN
  • Total Downloads: 169
  • Last Updated: 1 month ago

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