The portal has been designed, developed and implemented by National Informatics Centre (NIC), Mines Informatics Division.
It has been stated that though expansion projects in revised estimate (RE) stage, the target has been retained at Rs 402 crore, however, the same amount of expenditure may not be achieved due to delay in awarding of some of the tenders related to mine expansion, it said.
The Mines Ministry was also of view that exploration for all mining leases expiring in 2020 must be completed by December and in case any help is needed, Mineral Exploration Corporation Ltd (MECL) and Geological Survey of India (GSI) should be approached, the minutes said.
"There is no shortage of iron ore and at present there is no thinking in the mines ministry of capping of iron ore prices," Mines Secretary Arun Kumar said at a press conference here. "Mines of ministry does not have a plan of fixation for iron ore prices. They (Mines Ministry) are the administrative ministry," Kumar said.
The Centre is mulling taking more measures to safeguard the interests of the aluminium industry, a Parliamentary Panel said today.
Legal opinion on the proposed buying of government's residual stake in Hindustan Zinc Ltd (HZL) by Vedanta is expected within a month, the Mines Ministry said today.
The Mines Ministry has developed a portal which would facilitate in expediting the clearances associated with the mining blocks and help all stakeholders to track status of statutory clearances, an official statement said.
CNBC-TV18‘s Anshu Sharma, quoting sources, said that revised MIP for primary aluminum products is likely to be USD 1996 per tonne. For secondary aluminum products, MIP is likely to be range of USD 2275-3266 per tonne.
The mines ministry may favour an MIP to protect local industry from a flurry of cheap imports. State-owned consulting firm Mecon to submit revised report shortly.
That was followed by petroleum (crude) at Rs 5,593 crore, natural gas (utilised) at Rs 2,165 crore, iron ore at Rs 1,347 crore, limestone at Rs 554 crore and Lignite at Rs 535 crore, it added.
"As our Minister (Piyush Goyal) has said on increasing the share of the mining sector in India's GDP by 1 per cent in the next 2-3 years, we are working on an action plan over this," Mines Secretary Balvinder Kumar told reporters.
India will auction 100 prospective mineral blocks of 100 sq km area each by November this year, a move that will boost the country's mining potential.
"Mines Ministry will take up the issue of TLV on beach sand minerals (BSM) with the industry over the demand that it has made on the provisions of the draft Atomic Mineral Concession Rules 2016 at the national mines and minerals conclave in Raipur tomorrow," a senior government official said.
The Cabinet is likely to take up the National Mineral Exploration Policy (NMEP) on June 29, which will pave the way for auction of 100 prospective mineral blocks, boosting India's mining potential
"Ministry will soon send the NMEP to the Union Cabinet for approval. After the policy is approved, the government can auction 100 blocks that have been identified by Geological Survey of India (GSI) for exploration," a senior official said.
Six months after auction process was initiated for 43 mines across 12-mineral bearing states, only six blocks have managed to find buyers
"During April-May 2016, the Government will be auctioning 22 blocks, which includes two blocks of limestone in Chhattisgarh, 14 blocks of iron ore in Karnataka, 6 blocks of limestone in Andhra Pradesh," Mines Ministry said in a statement.
Last month, Steel and Mines Minister Narendra Singh Tomar had said his ministry has identified 100 mineral blocks for exploration, which will be offered to the private sector once the government notifies National Mineral Exploration Policy (NMEP).
Jharkhand on February 12 became the first state to auction two limestone blocks through an electronic platform after the passage of the MMDR Act by Parliament.
"It is a win-win deal. Government handled the challenge, under the MMDR Act of formulating mineral exploration policy that not only gives incentives to private sector, but also increases mineral exploration in the country," Mines Secretary Balvinder kumar told PTI.
"Domestic companies are reporting operating losses as imports are rising," Kumar said on Friday, but added he could not be certain that the finance ministry would accept the proposal.
The Minister emphasised on the need for working in close coordination with states and also bringing the beneficiaries from exploration and exploration agencies on same platform for better synergy and progress, the ministry said in a statement.
The move comes in the backdrop of government's plans to encourage mines exploration in the country, which has so far not been able to attract private participation on account of lack of policy bottlenecks as well as favourable business opportunities.
In March this year, the government passed the Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2015, which paves the way for states to auction iron ore and non-coal mineral mines.
Government sources said the Finance Ministry was unlikely to push for residual stake sale in HZL and Balco without the Mines Ministry‘s approval.