A.P. govt. eyeing ₹20,000-crore investment in rare earth mineral processing sector, says Minister
Minister for Excise, Mines & Geology Kollu Ravindra has said that the government was formulating an action plan for the establishment of titanium sponge, titanium
Minister for Excise, Mines & Geology Kollu Ravindra has said that the government was formulating an action plan for the establishment of titanium sponge, titanium metal and rare earth and advanced mineral processing industries, with a target to attract investment of over ₹20,000 crore. Attracted by the government’s transparent policies and reforms, reputed companies such as JSW Steel, Vedanta, Hindustan Zinc, Ambuja Cements, Shree Cement, Dalmia Cement and JK Cement came forward to invest in the State’s mining sector. Their entry would lead to efficient utilisation of resources and accelerate industrial development thereby creating thousands of jobs, he noted.
Addressing the media at the Secretariat on Thursday, Mr. Ravindra said Andhra Pradesh has the second largest beach sand mineral deposits after Tamil Nadu and efforts are being made to create wealth out of them. Minerals such as ilmenite, rutile, zircon, garnet and titanium found along the State’s coast were highly valued in the international market. He stated that the Jonnagiri gold project in Anantapur district, with 13 tonnes of gold reserves would soon enter the commercial production phase and it would be a major milestone in the State’s mineral sector.
Besides, exploration of iron ore and limestone was progressing rapidly in 17 mineral blocks in Chittoor district. The Minister claimed that the A.P. Minor Mineral Policy-2025 attracted huge investments and increased revenue for the government. Over 1,700 applications for mining licenses were received in the last two years and 172 were granted. Auction of mineral blocks in A.P. has been expedited in accordance with the Mines & Minerals Development and Regulation Act. So far, 21 mineral blocks have been auctioned and 11 mining leases and 10 composite licences granted.
Under the free sand policy, 19,185,793 Metric Tonnes of sand were supplied and the government has established 412 sand reaches/dispatch centres and 238 stockyards across the State. Towards curbing illegal mining, demand notices were issued for over ₹3,500 crore. Gold mining sites Principal Secretary Mukesh Kumar said potential gold mining sites were identified at four places, including Chigurugunta (Chittoor district), Ramagiri (Anantapur) and Visakhapatnam.
The BriefWire