Thursday, 19 November 2015

Pradeep Koneru at India Mining Summit on September 22, 2015

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Mr. Pradeep Koneru at India Mining Summit organised by Assocham on September 22, 2015. Shri Narendra Singh Tomar, Union Minister, Steel & Mines was at the chief Guest.

Stage set for mines auction to begin in November: Narendra Singh Tomar. Steel and Mines Minister Narendra Singh Tomar on Tuesday said that all the formalities for auction of mines bearing minerals like iron ore and bauxite have been completed and the auction process will start in November.

Mr Pradeep Koneru has been quoted as saying, “Trimex Group CEO Pradeep Koneru lauded the governments steps in enhancing the ease of doing business. Government must also consider giving impetus to the sand beach mining industry by addressing some of this industry’s concerns, he added. “Imposition of export duty tax on Ilmenite by previous government has severely affected us. We have also requested that we be allowed to process monozite and give back the uranium to the government,” Koneru said.”

Earlier in the day Mines Secretary Balvinder Kumar assured the industry that Centre will look into the issue of captive mines not being a part of a merger or acquisition deal under the MMDR Act. “There should have been provision for transfer of mines which have been allotted earlier but the law department has given very clear opinion that we cannot transfer any mining lease whether it is existing or even for those which would be allotted through auction,” he added. Though it is a setback for the industry but government will explore areas to resolve this issue, Kumar said.

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