Govt favours PSUs, charge private miners | delhi | Hindustan Times
Today in New Delhi, India
Apr 24, 2018-Tuesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Govt favours PSUs, charge private miners

Private miners in the country on Tuesday alleged that the government was favouring public sector companies while allocating mineral resources adding that investment in mineral exploration worth $ 270 million (R1,250 crore) made by the private sector have been wasted since 1996.

delhi Updated: Sep 14, 2010 23:04 IST
HT Correspondent

Private miners in the country on Tuesday alleged that the government was favouring public sector companies while allocating mineral resources adding that investment in mineral exploration worth $ 270 million (R1,250 crore) made by the private sector have been wasted since 1996.

‘‘There has to be a streamlined process by which mines are allotted by various state governments,’’ said R.K. Sharma, secretary general, Federation of Indian Mineral Industries (FIMI). ‘‘A lot of money is spent on exploration of mineral resources but when a company tries to get a prospective licence, it is given to a public sector company instead under one pretext or the other.’’

Instead, the industry has asked the government to reassess the resources that are with various public sector companies and re-allot them if they have not been suitably utilised. Miners are also opposed to government's proposed profit sharing model with the local population, claiming that such a concept has no basis nor precedence.