India is endowed with significant mineral resources. India produces 89 minerals. In India, 80% of mining is in coal and the balance 20% is in various metals and other raw materials such as gold, copper. India ranks 3rd in production of coal & lignite production. 11 the in crude steel in the World. Over 1.1 million people are employed in the Indian mining industry. With over 2,326 private and 292 public operating mines in the country, minerals form 16 percent of India's exports.
The State (provincial) Governments are the owners of minerals located within the boundary of the State concerned. The Central Government is the owner of the minerals underlying the ocean within the territorial waters * What is a Recognized Permit? It Is granted for preliminary prospecting of a mineral through regional , aerial, geophysical or geochemical surveys and geological mapping.
The total mineral potential area in India covers 5.75 lakh sq. km., of which an area of only 75,000 sq. km. has been explored in detail so far. ** According to industry estimates, the mining industry turnover is projected at $30 billion by 2012. The future demand for mining products will be driven by a growing Indian economy, resurging industrial production & rapid infrastructure development.
