http://www.thehindubusinessline.com/2007/12/18/stories/2007121850921200.htm
Some of the key points
1. Current Resources in Iron-ore has resulted in the fact, that, underdeveloped states are getting a big chunk of Investment. A project like POSCO is expected only on it's own to provide investment worth 52,000 crores. The current report from National Investment commission states that Orissa is expected to have 5,50,000 crores of Investment and it is still counting.
When we consider numbers in these range, does it make sense for us to push a mining policy which will generate 100,000 crores in 10 years.
Current mining rules dont allow for states tpo get a decent value for their ores. For a market price of Rs. 2700 /- tonne of iron-ore. The Govt., of Orissa does not get even Rs. 30 per tonne. This is around 1% of the Market Value.
Therefore, naysayers should underline , that, how, is the current draft NMP helpful for states like Orissa, Jharkhand, Chattisgarh.
Funnily Our so-called breaking news Media don't seem to see a HOT story. It is more important for them to see, If aishwarya Ray is pregnant or not.
Commercially, it is a lot of money. lakhs of crores. The tragedy of Indian Media today.
Some of the key points
- Mines Ministry awaiting Cabinet nod for policy
- Close to Rs 1 lakh cr investments expected in next 10 years.
1. Current Resources in Iron-ore has resulted in the fact, that, underdeveloped states are getting a big chunk of Investment. A project like POSCO is expected only on it's own to provide investment worth 52,000 crores. The current report from National Investment commission states that Orissa is expected to have 5,50,000 crores of Investment and it is still counting.
When we consider numbers in these range, does it make sense for us to push a mining policy which will generate 100,000 crores in 10 years.
Current mining rules dont allow for states tpo get a decent value for their ores. For a market price of Rs. 2700 /- tonne of iron-ore. The Govt., of Orissa does not get even Rs. 30 per tonne. This is around 1% of the Market Value.
Therefore, naysayers should underline , that, how, is the current draft NMP helpful for states like Orissa, Jharkhand, Chattisgarh.
Funnily Our so-called breaking news Media don't seem to see a HOT story. It is more important for them to see, If aishwarya Ray is pregnant or not.
Commercially, it is a lot of money. lakhs of crores. The tragedy of Indian Media today.
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