Karnataka to emerge as largest producer of iron ore in the world in 4-5 years: CM Bommai

Pragativahini News, Bengaluru : Karnataka will emerge as the largest producer of iron ore in the next 4-5 years in the world as a big steel plant is situated in the State, said Chief Minister Basavaraj Bommai.

Speaking at an investor conclave on commercial coal mine auctions and opportunities in the mining sector organized by the Ministry of Coal & Mines here on Saturday, he said Odisha has been a traditional mining state and it cannot be compared with other states and the rules applied there cannot be applied elsewhere. Production is possible only from the quality mines which are working in the State. The Ministry of Energy, Mine and Steel must use technology and indulge in the production of the minerals which are in demand.

He said a number of companies have submitted proposals to resume mining in Kolar Gold Fields and the government has simplified the mining policy. The mining companies are welcomed to take up mining and help the state to mop up revenue.

Bommai said the formation of mining will teach them the way of exploration and not exploitation. They need to maintain a balance between exploration and exploitation and that will help to achieve stability which is very important. “We have to bring in stability in this sector and implement the best mining culture. This sector has the opportunity to create 5000 jobs and bring good revenue to the government.  At the same time we have to understand the sensitivity in more gold and iron ore mining to achieve stability. Production will not increase if mining is not done scientifically and there will be no future. Exploration will help in the improvement of the economy of the country and the society. Exploitation means stealing the future.

He said Prime Minister Narendra Modi is a visionary and there is clarity in his goals. The previous government in the centre prior to 2014, had committed several mistakes and this made the incumbent government to bring in a new mining policy for the maximum production and brought stability. New equipment has come for doing mining in a more transparent and scientific manner. This is the ideal time to take up mining as a profession.

He said Karnataka has the best mining policy and the government will support the investors in all kinds. Coal, iron and steel are important mining and the country has done well in the field of coal mining. Under the flagship of Union Coal and Mining Minister, Pralhad Joshi, the production of coal has increased in the last four years. It is expected to reach 500 million metric tonnes in the next 3-4 years and the production will start soon. It will help to achieve a five trillion dollar economy. Coal production must be given thrust since it will strengthen the country’s economy but it has to be time-bound. The Supreme Court has given certain guidelines in regard to iron and steel mining and accordingly the mining must take place. Auctioning must be done in a transparent and honest manner. The process of auctioning of 16 blocks will start soon and the auctioning of another 25 blocks will also take place.

Union Coal and Mining Minister Pralhad Joshi, Karnataka Mining and Geology Minister Halappa Achar and others were present.