Although the government and the mining stakeholders are gung ho about the eminent growth in this core sector, as reported, the new laws do not adequately address what ails this important growth sector. The same can be described as auction-only approach to allocation of new mining blocks instead of allowing first-comers; non-exclusive mine exploration permits, preventing the explorers to monetise their endeavours and also the rate of compensation being paid to them. On review, these government practices are tending to create a non-conducive business environment in this sector.

Although the government officials connected with the industry claim that their intentions are honourable, in my opinion, the entire operational mechanisms require major course corrections to enable realise India?s ambitious objectives, in the near future.

IMME 2016 will be staged at Kolkata during this month. Most direct mining and allied equipment majors are showcasing their products, solutions and capabilities to attract the mine owners, seeking business. We will bring an update on the highlights in our detailed post-event coverage.

Cyrus Mistry?s abrupt stepping down from his position as Chairman, Tata Sons with immediate effect has sent shock waves across the country. Media has gone ballistic, providing their own authentic conjectures and opinions to explain the happenings inside. It looks like this is going to be a messy affair as Tata Group has already filed caveats in the court against possible litigation to be initiated by Mistry. Let us wait and watch how the future unfolds.

Our regular columns of interest to the readers continue.