Currently it is the global producer of chromite, coal, iron ore and bauxite while enjoying economic growth during the nineties. Mining is over years old in India. The oldest mines include lead-zinc mineral deposits at Zawar, copper deposits at Khetri, india gold deposits in Karnataka.
The mining techniques used back then were much ahead of their time and technology specially the smelting techniques. A timeless example and monument of the india of the old times craftsmen is the Iron Pillar in the Qutab Minar complex in Mining Delhi. India’s current state owned mining and benefitted companies have been facing drastic production cuts, resulting in operations becoming uneconomical which has eventually india in the closure of several mining operations.
Reasons have been given as lower grade reserves and excessive manpower quotas for poor results. Since the initiation of National Mineral Policy inIndia has made good progress in attracting foreign investment in its mining sector, along with attractive incentives. The National Mineral Policy was revised again in and as a result, private investment both domestic and foreignhas been permitted for the exploration and exploitation of the following minerals: Mostly the demand is for base metals, diamond, mineral sands and gold sectors.
To assist in the development of the country’s mineral resources India has set mining several governmental agencies like the The Geological Survey of India GSI which is the principal agency responsible for the assessment of geological and regional mineral resources of the country established in and is one of India’s oldest investigative agencies in the field of earth sciences. Its areas of operation help the scientific surveys and research, for locating mineral resources.
GSI office operates through six regional offices and four specialized wings – marine, coal geophysics, airborne surveys and training.
Mining one is The Indian Bureau of Mines IBM which is the principal government agency responsible for compiling exploration data and mineral maps and for providing access to the latest information in respect of mineral resources in the country. IBM has both regulatory as well as service functions. Brief Introduction For any nation, Minerals constitute the back-bone for economic growth and India has been eminently and enormously endowed with this gift of nature.
Since long time there are many evidences that exploitation of minerals like coal, iron-ore, copper, lead-zinc has been going on in the country from time immemorial. The first recorded history of mining in India dates back to when English Company was granted permission by the East India Company for mining coal in Raniganj.