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The year 2004-05 is an eventful year of the Ministry of Mines as public sector National Aluminium Company Limited (NALCO) achieved spectacular growth, Hindustan Copper Limited (HCL) and Mineral Exploration Corporation Limited (MECL) achieved turnaround and Geological Survey of India (GSI), a subordinate unit under the Ministry, explored new areas for coal, lignite, gold, diamond and copper. GSI was declared by the Government a nodal agency for landslide studies. It continued post-Tsunami studies and regular geo-scientific investigations. During the year, 23 Reconnaissance Permits covering 34,642 sq. km. were issued. Indian Bureau of Mines (IBM) inspected 2,93 mines and pointed out 2,812 violation cases. These highlights were given by the Minister for Mines, Shri Sis Ram Ola in a Press Conference here today. 'I have tried to create a lively working atmosphere in the Ministry, its subordinate units and PSUs, which has resulted in spectacular growth and all round development', he said.
Outlining the achievements, Shri Ola said, based on the recommendations of the study group, rates on royalty on major minerals (other than coal, lignite and sand for stowing) and dead rent have been revised and notified on October 14, 2004. The aluminium major, public sector National Aluminium Company Limited (NALCO) has achieved eye catching growth and completed the financial year 2004-05 with highest ever net profit of Rs.1222.43 crore recording a growth of 66 per cent over the previous year. The company has also reported all time record sales turnover of Rs.4437.97 crore with a growth of 33 per cent. It has established new records in all the segments. The Government has approved the second phase expansion of NALCO at a cost of Rs.4091.51 crore which will raise its bauxite mines capacity from 48 lakh tonnes to 63 lakh tonnes, alumina capacity from 15.75 lakh tonnes to 21 lakh tonnes and aluminium production capacity from 3.45 lakh tonnes to 4.60 lakh tonnes.
Mineral Exploration Corporation Limited (MECL) has turned around and achieved a net profit of Rs.244 lakh during 2004-05 after a gap of 14 years. After incurring loss for seven consecutive years, Hindustan Copper Limited has made a turnaround during the year and posted a net profit of Rs. 52.07 crore against a projected loss of Rs.67.67 crore.
Prime Minister in his review meetings hinted at making Geological Survey of India (GSI), a world class leader in the exploration and geoscientific studies and asked to incorporate most advanced equipments and technologies. During the year, besides its exploration activities, GSI has taken up marine seabed surveys, geo-scientific studies and geological studies in Antarctica. It has been declared by the Government the nodal agency on landslide studies. It took up post Tsunami geological studies in the Andaman and Nicobar islands. It has added a sizeable reserve of coal, lignite, gold and copper to the National Mineral Inventory. It has participated in all Antarctic Expeditions. It has led the recent expedition and carrying on geological studies in Antarctica.
The Ministry has drafted off-shore areas rules according to the Off-shore Area Mineral (Development & Regulation) Act, 2002 which are being vetted by Legislative Department. The Minister said that the National Mineral Awards 2002 and 2003 have been awarded during the year. Indian Mining Summit 2005 was organized by Federation of Indian Mineral Industries (FIMI) at Bangalore in February, 2005 to provide interaction between the Government and the prospective miners on the Policy issues. During the year, the ministry has taken adequate measures to infuse a new life in the entire mining sector and to bring about an atmosphere of work and development. The highlights of achievements show that for the Ministry, this is a year with difference.
DS/SCH
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