THE MINISTER OF MINES
(SHRI SIS RAM OLA)
(a) The State Governments are the owners of minerals and grant mineral concessions and prior
approval of Central Government is required for grant of mineral concession for minerals listed
in First Schedule of the Mines and Minerals (Development and Regulation) Act, 1957, which
also includes iron ore. The year-wise details of mineral concession proposals approved by
Central Government including those approved for grant of mining lease for iron ore during
last three years are available on website of Ministry of Mines (http://www.mines.nic.in).
(b) Under the National Mineral Policy in 1993, mining for non-fuel and non-atomic minerals has
been thrown open for private sector investment and an Indian National or a Company as
defined in sub-section 3(1) of the Companies Act, 1956 can undertake mining based on the
economic viability of the project. Mining is a stand-alone activity. The Central Government,
based on the State Government recommendations, accords prior approval for grant of mineral
concessions in terms of the provisions of the MMDR Act, 1957 and Rules framed there under.
The export of minerals including iron ore is as per the EXIM policy of the Government.
(c) The export figures of the iron ore as provided by Ministry of Commerce are as under:
Year Export (Quantity in Million Metric Tonnes)
2004-05 78.14
2005-06 89.27
2006-07 (Provisional) 93.79
2007-08 (Apr-Dec) 63.58
(d) The Government is of the view that management of mineral resources is closely integrated
with the overall strategy of development of minerals whereby exploitation of minerals is to be
guided by long-term national goals and perspectives. The country has sufficient resources of
iron ore at 25.25 billion tonnes, and these are increasing with further exploitation.