Federation of Indian Mineral Industries (FIMI) has stated that the casual attitude of State governments towards the mining sector is hurting the industry. FIMI said that about 65,000 applications are pending in states related to reconnaissance permit, prospecting license and mining leases.
Of these 65,000 applications, 44,000 are for granting of lease, 638 applications are for Letter of Intent (LoI), 2,500 for renewal of applications of mining companies which have captive mining, said SIMI Secretary RK Sharma in Bangalore on September 18.
States need to play a proactive role as the geological situation of India is akin to South Africa and Australia. Despite the huge reserves, there has been abysmally low exploration activity and minimal private sector participation, particularly in exploration of strategic and deep-seated deposits, FIMI said.
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