Key government policies benefiting the mining sector
Why Government Policies Matter in Mining
– Supportive policies drive growth, sustainability, and investment in the mining sector. – They ensure resource security and economic development.
National Mineral Policy
– Goals: Boost mineral exploration, improve production, and ensure environmental sustainability. Impact: Attracts private investments and fosters technological innovation.
Production Linked Incentive (PLI) Scheme
– Objective: Incentivizes production of critical minerals like lithium, cobalt, and rare earth elements. Impact: Reduces reliance on imports and boosts local manufacturing.
Auction of Mineral Blocks
– Policy: Competitive auctions for mining licenses to ensure fair allocation. – Impact: Enhances transparency and attracts global players to invest in Indian mining.
Sustainable Mining Initiative
– Objective: Promotes eco-friendly mining practices and community welfare. Impact: Ensures compliance with ESG norms, attracting environmentally-conscious investors.