New Mining Policy to Revive 2,000 Units in Andhra Pradesh
COAL & MINING

New Mining Policy to Revive 2,000 Units in Andhra Pradesh

The new Minor Mineral Policy approved by the Andhra Pradesh Cabinet is expected to revive 2,000 non-operational units and benefit around 200,000 workers, according to the Federation of Minor Mineral Industry (FEMMI).

In a statement issued on Tuesday, FEMMI Secretary General Dr Ch. Rao expressed gratitude to Chief Minister N. Chandrababu Naidu and Principal Secretary of Mines Praveen Kumar for addressing long-pending industry concerns. He noted that the policy would enhance the sector’s contribution to the State’s Gross Domestic Product.

The policy includes clearing backlogged applications, minimal penalties for one-time settlements, and free transfer of leases to family members upon a leaseholder’s death. It also shifts to tonnage-based seigniorage, eliminates multiple taxation, and allows installment-based premium payments, which Rao says will benefit small operators and attract new investment.

Mining leases for road metal, gravel, and building stone will now follow a first-come, first-served application process, while the auction system will apply only to minerals such as silicon, sand, quartz, and dolomite.

Image Source:ismenvis.nic.in

The new Minor Mineral Policy approved by the Andhra Pradesh Cabinet is expected to revive 2,000 non-operational units and benefit around 200,000 workers, according to the Federation of Minor Mineral Industry (FEMMI). In a statement issued on Tuesday, FEMMI Secretary General Dr Ch. Rao expressed gratitude to Chief Minister N. Chandrababu Naidu and Principal Secretary of Mines Praveen Kumar for addressing long-pending industry concerns. He noted that the policy would enhance the sector’s contribution to the State’s Gross Domestic Product. The policy includes clearing backlogged applications, minimal penalties for one-time settlements, and free transfer of leases to family members upon a leaseholder’s death. It also shifts to tonnage-based seigniorage, eliminates multiple taxation, and allows installment-based premium payments, which Rao says will benefit small operators and attract new investment. Mining leases for road metal, gravel, and building stone will now follow a first-come, first-served application process, while the auction system will apply only to minerals such as silicon, sand, quartz, and dolomite.Image Source:ismenvis.nic.in

Next Story
Technology

HCL-Foxconn to invest Rs 37 billion in chip plant near Jewar airport

The Union Cabinet has approved the establishment of a new semiconductor unit near Jewar airport in Uttar Pradesh under the India Semiconductor Mission. This sixth plant, a joint venture between HCL and Foxconn, marks further progress in India’s semiconductor journey. The project will see an investment of Rs 37 billion.The facility will produce display driver chips for mobile phones, laptops, automobiles, PCs, and other digital devices. It is designed for a monthly capacity of 20,000 wafers and an output of 36 million units.Five semiconductor units are already in advanced stages of constructi..

Next Story
Real Estate

Brigade acquires Velachery land for Rs 16-billion project

Brigade Enterprises has acquired a 5.41-acre land parcel on Velachery Road, Chennai, through an outright purchase for Rs 4.417 billion. Located next to Phoenix Market City, the site will be developed into a premium residential project with a gross development value of approximately Rs 16 billion and a development potential of 0.8 million square feet.The project offers strategic access to both the OMR IT Corridor and Chennai’s Central Business District, promising strong connectivity and premium lifestyle offerings. Brigade plans to create signature residences focused on aesthetics, functional..

Next Story
Equipment

Liebherr marks 10,000th XPower wheel loader milestone

Liebherr-Werk Bischofshofen has rolled out its 10,000th XPower wheel loader, marking a major production milestone. The anniversary L 580 XPower model, featuring a power-split travel drive developed with ZF Friedrichshafen AG, was handed over to the BERGER Group in Passau.“The transmission from our partner ZF is a key component of the drivetrain in our XPower wheel loaders,” said Gerhard Pirnbacher, Head of Quality Management at Liebherr. “With an impressive total of around 64 million operating hours already clocked up by XPower models, this transmission has proven its exceptional robustn..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?