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Mining industry flags issues with India’s mineral exploration regime
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Sumit Deb, outgoing President of the Federation of Indian Mineral Industries (FIMI). In his address during the 57th annual session of FIMI, he expressed doubts whether international Junior Exploration Companies or domestic exploration companies would be keen to participate in the auctioning of exploration licenses under the proposed regime.
“We feel that the amended Mines and Minerals (Development and Regulation) Act, 2023 may not achieve the desired objective of establishing the required resources of much needed deep-seated and critical minerals,” Deb said.
He noted that there is a need to revisit the mineral concession policy and to adopt conducive framework in line with international practices.
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