Positive Side of Mining Bill in India
October 11th 2011 20:34
The exploration of minerals requires huge investment and also there is no guarantee that the results will be positive every time the exploration is done. India requires large investment for the exploration of the mineral reserves in India.
Maximum exploration has been seen in the Coal Industry. The other metal which is highly consumed in India is Gold, today it is estimated that huge deposits of Gold is located in the states of Chattisgarh, Madhya Pradesh and Andhra Pradesh along with Goa. The only gold mine in India is Hutti Mines in Karnataka.
Many of the companies in India have already applied for prospective Licenses to explore gold and platinum in the state of Goa.
Most of the Diamond mines in India is exhausted and only one mine at Panna in Madhya Pradesh is active which is operated by NMDC and has the capacity of 100,000 carats. The deposits of Diamonds near Chattarpur in Madhya Pradesh was discovered by UK based Rio Tinto in the year 2004. The company production rate can help put Madhya Pradesh on the chart of top ten diamond producers in the world.
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