13 SEPTEMBER 2011Business Standard
Bauxite Reserves and further mining
Edited by : AL CIRCLE
1 min read
Even if we have three billion tonnes of bauxite reserves, the fact is these resources are still finite. Moreover, the experiences of Vedanta in trying to open bauxite mines in the Niyamgiri hills are, to say the least, disheartening.
Former mines minister B K Handique had an occasion to say that “care should be exercised to ensure that the best quality bauxite mineral is not consumed too soon, leaving nothing for our future generation.” Was he not suggesting that we get more focused in prospecting for new deposits within the country and, at the same time, look beyond our shores for bauxite deposits, as we are to lift our aluminium production to five mt by 2015 from 1.6 mt last year? But acquisition of resources abroad is becoming increasingly challenging. This will explain why metal producers of size consider it wise to buy equity in mining entities with underlying right to a portion of mineral output.
Former mines minister B K Handique had an occasion to say that “care should be exercised to ensure that the best quality bauxite mineral is not consumed too soon, leaving nothing for our future generation.” Was he not suggesting that we get more focused in prospecting for new deposits within the country and, at the same time, look beyond our shores for bauxite deposits, as we are to lift our aluminium production to five mt by 2015 from 1.6 mt last year? But acquisition of resources abroad is becoming increasingly challenging. This will explain why metal producers of size consider it wise to buy equity in mining entities with underlying right to a portion of mineral output.
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