New Delhi | April 24, 2016: In a step which will help attract greater private participation in the mining sector and boost investment, the Geological Survey of India (GSI) will now soon be allowed to put up all the data related to reserves in mines under its control as well as their geospatial contours in the public domain, as the defence ministry has acceded to the mines ministry’s request.
However, there may still be some restrictions in place as most of the data is related to mines located in deep-sea reserves and sensitive locations. According to highly-placed sources, after prolonged talks, the MoD is learnt to have agreed to partially modify its 1967 circular and allow the mines ministry to put up the GSI data in the public domain. This circular also disallows the Survey of India from putting up sensitive details related to certain security-sensitive geographical areas of the country’s geographical map in the public fora.
However, with the Modi government keen on bringing greater investment from the private sector in the mines segment and also with its focus on greater transparency in it, signs of the MoD giving some leeway to the mining sector had emerged in recent times. The lifting of restrictions comes with certain riders and the data can be allowed to be uploaded only after following some conditions, sources said.
Mines ministry officials had been involved in elaborate talks their MoD counterparts regarding this, and after the latest round of talks, the MoD indicated that formalities are being worked out to allow the GSI to put up mines-related data in the public domain.
Once this happens, it would give the private sector a lot of leeway in terms of actually gauging the capacity of mines situated in various parts of the country and also the quality of reserves contained in them. This would encourage them to come forward and participate in the exploration processes, sources said. This move comes close on the heels of the Centre allowing auction of mining leases, which will help mineral-rich states in the next 30 years to yield returns worth lakhs of crores of rupees.
(Source: http://www.asianage.com/)