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Value addition of minerals likely: FM

business Updated: Jan 09, 2011 22:12 IST

The Centre is working together with the chief ministers of mineral-rich states on value addition and the new mining policy would include all suggestions, finance minister Pranab Mukherjee said on Sunday.

“When the new mining policy will be formulated, all these will be factored in,” said Mukherjee. “I received a representation from Orissa in this regard (value addition to minerals). I had a discussion with the chief minister too.”

Mineral-rich states such as Orissa, Chhattisgarh, Jharkhand, Karnataka and Rajasthan have been demanding among other things inclusion of a value addition clause in the new mining policy. There is also a strong demand for substantial increase of coal royalty.

He said the challenge was to find the correct balance between the need for economic growth and sustainability of resources.

“One of the biggest challenges is to find the correct balance between the need for economic growth, sustainability of resources and natural habitats and the opportunities that need to be created for bringing people such as those in tribal belts into the mainstream of the development process,” he said.