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Mining Sector Attracts Investment

Bhubaneswar: On Day Two of ‘Make in Odisha Conclave 2022’, one of the largest investment summits in India, Sectoral Session on “Mining in Odisha – A Paradigm Shift” was conducted where industry leaders from mining sector from across the country participated in the presence of Deo Ranjan Kumar Singh, Principal Secretary, Steel & Mines.

In his address to the delegates, Principal Secretary, Steel & Mines, said, that the State Government is formulating a Logistics Policy for raw material evacuation by prioritizing slurry pipe lines, rail network and also water ways which will substantially reduce the road transportation in the mineral rich districts of Odisha.

He also said that the mining sector has perception problem, however, in the last couple of years the perception has changed positively as the sector has been contributing immensely to the economy.

Mr.Singh further added that everyone in the mining industry must work to change the perception of the industry further by taking care of the planet and the people living in the periphery thereby winning the hearts of the local people.

He said that the state-owned OMC has been doing massive CSR works in its mining areas to improve the socio-economic lives of the people residing in the periphery of the mines.

Mr.Singh further said that 80% of the minerals produced by OMC shall be given to long term linkage players as per the Long Term Linkage policy of OMC to ensure that the small and medium industry players are benefited.

On the session, Mr.Singh unveiled the white paper “Compendium on Mining & Metals sector in Odisha” which contains data points on deposits, state’s exploration plan, policy initiatives and downstream plans for steel, stainless steel & aluminum.

In the welcome remarks, Balwant Singh, Managing Director, OMC and OMECL, said that mining sector contributes 2% to 2.5% GDP in India and we should work hard to add more value to the economy.

Mining sector is a challenging one, sometimes infamous, but the paradigm shift in Odisha through transparent and successful auctioning of blocks, adoption of digital platforms like i3MS, upcoming improvement efforts in logistics, governance and further prospecting centers will surely attract further investors in mining sector and add value to national economy and general social welfare.

The industry leaders also shared their views including Thomas Cherian, Managing Director, Essel Mining & Industries Limited, Aditya Birla Group; C. Ramakrishna, Head-Mining, AM/NS India Limited; Harmeet Singh Sethi, ED and Group Head, Dalmia Cement; Pankaj Kumar Satija, Managing Director, Tata Steel Mining Limited;  Suddhasatwa Basu, Director, IMMT; Jadaba Nanda Das, Dy DG (R) Geological Survey of India; Sailendra Sinha, Director (Geology), OMECL.

The five-day event will conclude on Sunday, December 4 with a mega cultural event and the Conclave being open to the public.