india’s rich mineral resources, has a certain advantage mineral products are: iron ore, bauxite, chromite, dolomite, lisbmne, coal and manganese; other minerals such as: oil, coal, copper, lead, zinc, nickel, tungsten, molybdenum, gold, phosphorus, potassium, sulfur, asbestos and diamond is relatively insufficient.
india is rich in coal resources, proved reserves of 844 tonnes in 2000, accounting for about 8.6% of the world total. mainly for the bituminous coal and anthracite. main coal distribution in bihar, ma in asia, pula to even and the western gil etc..
1.2 iron ore
india iron mine is rich in resources, and more high quality iron ore. iron metal reserves of 28 tons, 62 tons of reserves. one grade above 65% in the rich reserves of about 11.5 tons, mainly for hematite and magnetite, hematite ore grade were above 58%; magnetite ore grade is low, generally 30% ~ 40%. india large hematite deposits are mainly distributed in the following 5 areas : 1 birra jim area ( a state of orissa state ); ii daly a jay hala worship radi region ( madhya pradesh ); the bellary a hoss pate region ( karnataka ); the lats nagy region ( mahala shi labang ); the goa region.
important deposits as follows: worship radi pull (bailadila ) hematite deposits, mining area is loed in the south central states, composed of 14 rich hematite deposits, ore grade of above 60%. the total reserves of more than 12 tons, inferred reserves 30 tons; the couderay muck ( kudremukh ) magnetite deposit, second only to the karnataka, mining area of 5 square kilometers, ore-bearing formation for the archean gu yuan ancient wahl group, ore formation banded magnetite quartzite. weathering and transitional ore magnetite ore ( recoverable reserves of about 6.1 tons of ore ), grade 38.6%.
india has proven ore reserves of 34000000 tons, is the most level of blast furnace. the deposit is a famous production in the history of india ‘s jia muda coira manganese deposit, ore reserves of 36000000 tons, high grade of 41% ~ 57%. the other is produced in the history of india in nagpur on a balajiate manganese ore belt, the belt length of about 200 kilometers, 30 kilometers wide, there are more than 200 mn deposit ( point ), estimated ore reserves of up to 2 tons, grade 40% ~ 50%.
the current proven copper reserves are estimated at 4.3 tonnes ( 4550000 tons of metal content ), distributed in 200 deposit in. state-owned hindustan copper company ( hcl ) 10 production mine reserves of 1.85 tons, copper grade of 1% or more. rajasthan near khetri banwas deposits are considered to be potential copper rich mineral resources, ore with high copper content of 1.94%.
india bauxite is resourceful, bauxite reserves of 7.72 tonnes in 2001, basic reserves of 14 tons, ranking fifth in the world. india bauxite is weathering residual type, widely distributed, but most of the focus on the east coast of orissa and ande pradesh. ore with a total area of 25000 square kilometers, reserves of 16 tons of known ore, india accounted for the proven reserves of more than 60%, mostly of gibbsite – type bauxite ore, a1203 45% – 55%, in addition to the deccan basalt rock bauxite are also important, mainly distributed in the history of india.
lead zinc ore reserves are estimated at 3.9 tonnes, which zinc grade in 8.7% of the reserves of 1.7 tons, 2.17% grade is recoverable reserves.
1.6 chrome iron ore
india chrome iron ore resources. according to the 2002 data, the chrome iron ore reserves of 26000000 tons, the basic reserves of 57000000 tons, ranking fifth in the world. the main deposit is loed in the east of india shield a southeastern proterozoic mafic and ultramafic belts. over 90% of india’s known chromite are concentrated in the state of orissa. important deposits as su jinda nauman csathy ( sukinda? dnausashi ) chromite deposit, loed in the state of orissa in eastern facta county and cover, chelsea in the county, the deposit in 40 years ago has been found. until the nineteen seventies metaphase, determine the deposit reserves of 11400000 tons, which proved reserves of 3000000 tons. the deeper yet pinchout, may extend to a depth of 500 metres deep, there are still some prospecting potential.
the 2 mining industry management
2.1 mining industry management system
according to the india mining and mineral ( management and development management ). all the state mineral belongs to all, but by the central government in exercise of administrative rights. mining right gold and tax measures by the central government to enact and amend, but paid directly to the state.
india mining coal and mining department is responsible for the management, the department responsible for the removal of oil and gas and radioactive minerals of all mineral geological survey, prospecting and mining mineral resources law” and” administrative law enforcement. under the geological survey of india, india bureau of mines and mining lease administration. coal by the department of energy ‘s coal management bureau. the ministry of petroleum and natural gas for oil and gas exploration and production, refining, transportation and marketing. nuclear materials by atomic energy authority management.
in the central government’s environmental management policy, program expansion, modernization and new project started before must obtain environmental permits, and obtain environmental permits before all the important project to submit an environmental impact assessment report and environmental management plan.
in a mineral fuel management, although the central government is responsible for the overall, but the specific management right in state government. especially in 1999 revised mining method, give the government more power.
in the implementation of economic reform, india almost all metal mineral and energy resources from the public sector public sector development, mineral production value occupies countrywide mineral products output value of 90% ( with few exceptions, private sector mainly non-metallic mineral building materials and the development of small-scale ). india new industrial policy, modifiion of the national mineral policy and mining and mineral development and management method. in 1994 march, a total of 13 kinds of mineral products and mineral sectors to foreign capital or private sector open, they are iron ore, manganese ore, chrome ore, sulfur, gold, diamond, copper, lead, zinc, molybdenum, tungsten ore, nickel and platinum group metals. since then the government has begun the privatization of state-owned mine enterprises, will be sold to private and foreign investors. with the privatization of the ceaseless development, more and more private and foreign capital to enter to the mining industry in india.
currently involved in india mining activities of foreign companies are mainly bhp, rio tinto, de beers, alean canadian aluminium company limited.
2.2 mining legislation
following the 1994 mass modifying mineral law, india in 1999 december further modified the” mining and mineral law”, perfect mining industry development and management system, to make the relevant provisions of the investors more convenient. modifiion of the main features and content are as follows.
1) the relevant provisions of the mining right : in the existing mineral exploration stage before the introduction of the reconnaissance stage concept, the stage was significantly different from the exploration phase; ii reconnaissance permit holders have made the exploration license priority; the exploration permit, license and mining lease area limits is limited to the state range.
2) to state government more power.
3) for the large-scale mining investment projects ( plans to invest more than 2000000000 rupees ) mining lease, if in 2 years cannot start their power will be terminated ( the past to mining industry project size is not specified ).
4) in the government owned companies and other enterprises is the competition between the fair.
5) advance to terminate the lease area to public and private companies and the government all the company was granted when the lease, transfer can not obtain the premium income.
3 foreign capital management and policy
in order to attract foreign investment, in 2000 the government introduced a series of mining on foreign capital further open policy, the government of india will allow oil refining enterprise foreign direct investment from the ratio of the provisions of the original 49% to 100%; the nonfuel mineral enterprises, by the reserve bank of india automatic approval of foreign direct investment from the ceiling 50% to 74% – 100%. the new policy is specified as follows.
3.1 nonfuel mineral policy
1. to the gemstone and diamond exploration and mining projects, the reserve bank of india can be automatically approved foreign shareholding proportion reached 74%; if the intention of holding more than 74%, must be reported to the india foreign investment promotion bureau approval; ii except gemstone and diamond, other non-fuel mineral exploration and mining projects, the reserve bank of india automatic approval of foreign investment the proportion reached 100%; mineral smelting and processing project, the reserve bank of india can be automatically approved foreign shareholding proportion reached 100%; and for the existing risk investment project partners to invest new capital, without opposition to prove (noc ) requirements, as long as the partner to make a statement, a statement he in the same area and / or specific mineral no ongoing risk investment project.
3.2 mineral fuel foreign policy
(1) oil ( excluding refining section )
1) through competitive bidding the small land blocks petroleum exploration projects, foreign direct investment can reach 100%. the opposition proved medium size blocks, if the entity’s risk exploration projects, foreign direct investment can reach 60%. on the registered company joint venture investment projects, the foreign direct investment can reach 51%.
2) petroleum products and line departments, foreign direct investment can reach 51%.
3) and petroleum product sales related infrastructure projects, the foreign direct investment can reach 74%.
4) to market research for the purpose of the company is a wholly owned subsidiary of may 100%.
5) the actual transactions oil trading company, the indians holding at least 26% of the shares of the time required for more than 5 years.
the situation does not allow automatic approval.
(2) petroleum refining
1) the public sector ( public sector units ) project, the foreign direct investment of up to 26%, the public sector holding 26% of the shares, 48% shares held by the public. automatic approval.
2) private companies, foreign ownership can be automatically approved reached 100%.
(3) coal and lignite
coal or lignite power of the india private company, foreign direct investment can reach 100%.
foreign direct investment can establish coal processing plant, but the condition is that the company can not be washed or screened coal in the open market sales, and ought to the treated coal to coal or coal to screen for coal processing plant to provide coal department. coal or lignite consumption of coal exploration and mining companies, foreign direct investment can reach 74%.
in this case, the foreign direct investment can be automatically approved reached 50%, but the public sector enterprises, these investment cannot exceed 49% of the shares in the public sector.
(4) nuclear energy mineral products
for nuclear energy mineral mining and mineral processing projects, the reserve bank of india can be automatically approved foreign direct investment reached 74% share, if beyond this ratio, the reserve bank of india approval before, must be the india atomic energy commission license.
in addition, india companies want to get foreign companies to provide technology transfer, the one-time defray specialized technology transfer payments do not exceed $2000000, transfer agreements can be automatically approved. in 1994 10000000 rupees ( about $400000).
new foreign policy, greatly improved the mining investment environment in india, and has attracted international attention of investors, many investors have turned to india. 1999 ~ 2000 fiscal year, the government of india in mining approval of foreign investment was 32730000 us dollars.
4 tax and related policies
india gold mineral rights on the basis of different have different collection methods. for example, oil sea for 10%, land 12.5%, natural gas 10%, rs 1550 / tons of chrome ore, copper ore (copper 1% ) rupees 4 / tons, iron ore of 104 rupees per ton.
in recent years, as the development of economy, promote the enterprise investment, the government can greatly reduce the corporate tax rate, domestic companies and foreign companies in the past few years, tax rates were 46% and 55%, down to the present 35% and 48%. in order to protect the domestic gold production, greatly improve the gold import tariff. from 1999 before every lo grams of gold at $5.88 to $9.40.
in attracting investment has also formulated a series of preferential tax policies, including: investment in public infrastructure, before 5 years of tax exemption, after 5 years of remission of 30%; in march 31, 2000 before the specified area behind the establishment of new enterprises, before 5 years of tax exemption, after 5 years of remission of 25%; the 2003 before the power generation business and investment begin power generation enterprise, before 5 years of tax exemption, after 5 years of remission of 25%; and for the promotion of the northeastern region of india oil exploration and development activities, loed in the area of oil and gas fields in the commercial production starts after 7 years as the exemption period; the water block ( water depth of 400 meters ), the northeastern region of the oil gas field in commercial production for 7 years after right fee levied by the.
and foreign related tax including : 1 foreigners long-term capital gains tax rate is 20%; the foreigners sell securities short-term capital gains tax rate is 30%; the dividend income, interest rates, foreign currency foreign currency fund income tax rate of 20%; the foreign technology companies authorized to use the income tax rate of 30%; the corporate income tax rate for foreign investment securities 20%.
5 cooperation possibility analysis
in order to promote the development of mineral resources, attract more foreign capital to enter the india mining industry market. the government of india in nineteen ninties began at the beginning of the policy of opening to the outside world. but because of the relatively conservative policies, laws and regulations is diseased wait for a problem, its investment environment of mining industry in the world ranking has been on. in the region’s main ranking is also very difficult to see its shadow. in recent years, the government has increased efforts to improve the investment environment of mining industry, including: improving foreign investment shares, expanding foreign investment automatic range; further modified the mining law, perfect the system of mining management, as well as the implementation of the export tax rebate policy; to speed up the process of privatization, the mining investment environment has been a qualitative leap. in 2001 the first well-known advisory company president to include the united states, canada, australia, 25 of the world mining industry of mining investment environment sort, india ranked eighth in asia, 4 countries ranked first.
the mining investment environment in india has been greatly improved, but there are still many unfavorable factors. for example, foreign capital and domestic capital is not equal to corporate tax rates, for example, domestic 35%, foreign capital is high up to 48%, foreign capital than domestic 13 percentage points higher (2000, domestic companies and imposed a 10% tax, the actual income tax 38.5%. starting in april 1, 2001 for domestic company added a 2% surtax, thereafter in enterprises and corporate tax rate is actually 35.7%. foreign company tax rate to 12.3 per actual gap