Growth in automotive
Automotive growth driving demand for steel and aluminum
The Mining industry in India that was valued at $ 41.7 bn in 2014-15, is estimated to reach $ 126 bn by 2025. The industry accounted for about 2.6% of the total gross value added (GVA) in 2015-16.
The total value of mineral production (excluding atomic & fuel minerals) during 2017-18 has been estimated at $ 16.6 bn, which shows an increase of about 13% over that of the previous year. During 2017-18, the estimated value for metallic minerals is $ 7.7 bn or 47.7% of the total value and non-metallic minerals including minor minerals is $ 8.8 bn or 53.3% of the total value.
100% FDI allowed in Mining and exploration of metal and non-metal ores under automatic route
100% FDI allowed in Mining and mineral separation of titanium bearing minerals and ores, its value addition and integrated activities under government route
For further details, please refer FDI Policy
Coal producer share
Petcoke imports growth
Mineral production index
India's share in crude steel production
Second largest coal & steel producer in the world
Fourth largest iron ore producer in the world
Ninth largest bauxite reserves in the world
India has large reserves of Iron ore, Bauxite, Chromium, Manganese ore, Baryte, Rare earth and Mineral salts. India produces as many as 95 minerals, which includes 4 fuel, 10 metallic, 23 non-metallic, 3 atomic and 55 minor minerals (including building and other materials). In 2015-16, there were more than 2,101 reported mines excluding atomic and minor minerals, natural gas and petroleum (crude).
Out of 2,101 reported mines, 274 were located in Madhya Pradesh followed by Tamil Nadu (252), Gujarat (225), Jharkhand (211), Chhattisgarh (162), Odisha (157), Karnataka (146), Andhra Pradesh (135), Maharashtra (134), West Bengal (100). These 10 states together accounted for 85% of the total number of mines in the country in 2015-16. Among them, 558 mines belonged to coal and lignite, 668 to metallic minerals and 975 to non-metallic minerals.
Cost advantage in steel and alumina production-conversion
Leading to opportunities for steel, zinc, and aluminum
100 blocks identified by GSI for regional exploration
Major minerals production recorded 9% growth in 2015-16
Vedanta Resources Chairman Anil Agarwal announced the company’s plan to inject INR 15,000 crore to raise the alumina refinery capacity at Lanjigarh in Odisha
NLC India to invest INR 1.29 lakh crore to increase mining, power capacity
Adani Enterprises Ltd announced that it is ready to start work on the $ 16.5 bn Carmichael mine. The project is expected to commence production in FY 2020-21 with an output of 25 mn tonnes in the first phase.
JSW Steel proposed constructing a slurry pipeline project to transport iron ore and coal at competitive prices in Karnataka with an investment of $ 3.3 bn. JSW Steel is currently operating a 12-MMTPA integrated steel plant in the area.
Hindustan Zinc announced that it will set up its first Zinc Fumer Plant in Rajasthan by 2018 with an investment of $ 83.2 mn. This plant will extract metals from waste and will have an annual production capacity of 3,000 tonnes.
Mangal Credit and Fincorp announced plans of diversifying in iron ore mining by acquiring a mine near Goa. The 21 ha mine consists of iron ore reserve worth $ 223.1 mn.
Automotive growth driving demand for steel and aluminum
29 blocks under auction; 50 others for auction in 2016-17
Double-digit growth for manganese, lead, copper, alumina
To promote sustainable extraction of minerals, and create an…
An Act to provide for the development and regulation of mine…
The National Mineral Exploration policy document spells out…
The Indian Government has created NMET to increase spending…
The new Steel Policy enshrines the long term vision of the G…
Gevra Open Cast Coal Mining Project
Kusmunda Coal Mining Project
Open Cast Coal Mining Project [Dudhichua]
Rampur-Batura Open Cast Mining Project
Maintains a database management system to cater to the requirements of various users/
stakeholders of the mineral industry and regularly publishes Newsletters and Monographs.
Credit will not be available, if these goods are supplied for construction of an immovable property.
But if these are temporarily placed for protective purposes, credit will be available.
Under the Constitution of India, safety, welfare and health of workers employed in mines are the concern of the Central Government (Entry 55- Union List- Article 246). The objective is regulated by the Mines Act, 1952 and the Rules and Regulations framed thereunder which are administered by the Directorate- General of Mines Safety (DGMS), under the Union Ministry of Labour and Employment.
A list of the subordinate legislation under the Mines Act administered by DGMS are:
1) Coal Mines Regulations, 1957.
2) Metalliferous Mines Regulations, 1961.
3) Oil Mines Regulations, 1984.
4) Mines Rules, 1955.
5) Mines Vocational Training Rules, 1966.
6) Mines Rescue Rules, 1985.
7) Mines Creche Rules, 1966.
Yes, the basic exemption limit of $ 15,385 ($ 7693 in the case of special category States) is applicable to the tiny and micro segment even in mining. However, a person engaged in making taxable supply and having aggregate annual turnover (more than $ 15,385in any State other than the special category States) would be liable to obtain registration under GST. The return has to be filed on monthly basis by regular taxable persons and on quarterly basis by the taxable persons registered under the composition scheme.
In a case where the process amounts to manufacture, the rate of tax will be 1% (CGST) and 1%
(SGST/UTGST). In any other case, the rate will be 0.5% (CGST) and 0.5% (SGST/UTGST).