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

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