Bengaluru: Kudremukh to explore country’s mineral assets

Bengaluru, July 7 (IANS) State-run Kudremukh Iron Ore Company Ltd (KIOCL) on Tuesday said that it will jointly explore mineral assets across the country with the Mineral Exploration Corporation Ltd (MECL).

“We will deploy our mining and mineral experts to jointly explore mineral assets, as only one percent of mineral-bearing area has been mined till date, while about 800,000 sq.km of mineral-rich regions across the country remain to be tapped,” the city-based KIOCL said in a statement here.

KIOCL and MECL chairmen and managing directors Malay Chatterjee and Gopal Dhawan respectively signed an agreement for joint exploration in presence of union Steel and Mines Minister Narendra Singh Tomar after a meeting of the ministry’s parliamentary consultative committee here.

“In view of the urgency to explore the mineral wealth extensively, we have decided to leverage our respective domain expertise for the task ahead, as envisaged in the recently amended Mines & Minerals Development and Regulation Act,” the joint statement saiod.

The ministry has also roped the Geological Survey of India (GSI) to explore mineral resources with a budgetary allocation of Rs.166 crore in this fiscal as against Rs.96 crore in the last.

“We have also directed the mineral-rich states to set up the district mineral funds for rehabilitation and resettlement measures to protect the environment and people affected by mining activity, as directed by the Supreme Court-monitored committee,” Tomar told reporters here after the meeting.

 

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here