Odisha and Mining

'Odisha', known for its rich history, cultural heritage, architecture, natural beauty and for it's indigenous primitive tribes, which was attracting the foreign biologist, archeologist, anthropologist, historians and philosophers from the times immemorial.

But now it’s not that the culture, heritage and natural beauty that luring the multinational mining companies but it’s that the high quality of mineral deposits in its warmth womb.

The state regarded as the mineral basket of eastern India and home to several key minerals and ores such as Bauxite, Iron, Coal, Chromite, nickel etc, representing 16.9% of the countries total mineral resource.

Since 2008, Odisha has been the leading state in India terms of FDI in the mining sector of about INR 2.5 trillion.

From last few years a slew of big ticket investment in the mining sector raised to some one billion US dollars in the state,which shows the potential to grow its economy to a higher level but unfortunately all the multinational investors like Vedanta Aluminium Ltd. and POSCO are now struggling with the delay of their projects.

In its attempt to improve the state’s business climate the GoO(Govt. of Odisha) has issued a no. of policies like Industrial policy 2007, FDI policy 2006, Labor policy 2007, R & R policy 2006,ICT plan 2000-2005 and to encourage the private participation it introduced PPP policy 2007.And it has the mining regulatory bodies like OMC and Department of Steel and Mines.

Despite having tremendous growth potential the mining industry in Odisha continuous to face no of challenges due to the lack of poor infrastructure, mining policy and the mining regulatory bodies and some what the wasted interest of the politicians and bureaucrats.

The countries like Australia, South Africa, and Canada prospered through the proper utilization of their mineral resources to build a robust mining industry which propelled their economy to a greater high.

So it is the high time that the GoO must realize to boost its economy by proper utilization of its mineral resources by reviewing its mining policy and faster decision making in order to bring transparency and to build a robust mining industry , by encouraging the highest standards of technical, environmental, safety and social practices for the sustainable development of the society.