Unperturbed by the ongoing mining scam, the BJP-ruled Karnataka Government plans to recommend issuing of new mining licences. This measure comes in the wake of the Global Investors’ Meet (GIM) and the keen interest shown by investors to come to Karnataka.
The new mining licences would be for the express purpose of adding value to the ore so they could be used by the domestic steel sector and other industries that needed value-added ore. After the investment fiasco of Vedanta in Odisha, Karnataka has been the hotspot of investment.
According to Large & Medium Industries Minister Murugesh Nirani, more than 1,200 mining licence applications were pending in the State. The Minister confirmed to english daily The Pioneer that the State Government was going ahead with conducting the hearing on application for recommending to the Union Government that fresh mining leases be issued.
He added that the recommendations would be only for applicants who add value to the iron ore as part of the new mining policy of the State Government.
Nirani also said the notification had been issued to acquire more than 84,000 acres in the State. He added, “Karnataka’s GIM was a great success. The State Government has so far got around Rs.2.2 lakh crore. We have also got 1,200 applications for fresh mining leases. We are going ahead with recommending the applications to the Centre.”
Principal Secretary to Department of Commerce VP Baligar confirmed that the grant of licences would apply only to value addition in the mining sector. He made it clear that the Government would not give licences to raw iron ore exports.
Meanwhile, Bramhani Steels, which is planning an investment of over Rs.30,000 crore in Bellary, has already deposited Rs.360 crore with the Government for purchase of land. The firm is owned by the Bellary brothers.
Baligar also said that post-GIM, investors had deposited more than Rs.1,000 crore with the Karnataka Industrial Areas Development Board (KIAD) seeking land. Among the major companies that have started the process of investment are ArcelorMittal, Posco, Essar Group and Bhushan Steel. According to sources, the State Government has already issued final notification for land acquisition in Bellary.
In continuation of efforts to make Karnataka the favoured investment destination, the BJP Government has opened up more than 5,000 sq km of land for mining. The move had been severely criticised by green activists and Opposition parties.
The new mining licences would be for the express purpose of adding value to the ore so they could be used by the domestic steel sector and other industries that needed value-added ore. After the investment fiasco of Vedanta in Odisha, Karnataka has been the hotspot of investment.
According to Large & Medium Industries Minister Murugesh Nirani, more than 1,200 mining licence applications were pending in the State. The Minister confirmed to english daily The Pioneer that the State Government was going ahead with conducting the hearing on application for recommending to the Union Government that fresh mining leases be issued.
He added that the recommendations would be only for applicants who add value to the iron ore as part of the new mining policy of the State Government.
Nirani also said the notification had been issued to acquire more than 84,000 acres in the State. He added, “Karnataka’s GIM was a great success. The State Government has so far got around Rs.2.2 lakh crore. We have also got 1,200 applications for fresh mining leases. We are going ahead with recommending the applications to the Centre.”
Principal Secretary to Department of Commerce VP Baligar confirmed that the grant of licences would apply only to value addition in the mining sector. He made it clear that the Government would not give licences to raw iron ore exports.
Meanwhile, Bramhani Steels, which is planning an investment of over Rs.30,000 crore in Bellary, has already deposited Rs.360 crore with the Government for purchase of land. The firm is owned by the Bellary brothers.
Baligar also said that post-GIM, investors had deposited more than Rs.1,000 crore with the Karnataka Industrial Areas Development Board (KIAD) seeking land. Among the major companies that have started the process of investment are ArcelorMittal, Posco, Essar Group and Bhushan Steel. According to sources, the State Government has already issued final notification for land acquisition in Bellary.
In continuation of efforts to make Karnataka the favoured investment destination, the BJP Government has opened up more than 5,000 sq km of land for mining. The move had been severely criticised by green activists and Opposition parties.
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