Mines and Geology Minister Peethala Sujatha said 35 companies have shown interest in forming joint ventures with the A.P Mineral Development Corporation (APMDC) and setting up mineral-based industries this year.
The Government has got the best policy for the mines and minerals sector and it was well-positioned to grab the opportunities coming its way, she said.
Addressing Invest Idea, a mining and mineral-based industry conclave organised by the Department of Mines and Geology here on Friday, Ms. Sujatha said there were MoUs in place for excavation of 30,000 to 40,000 tonnes of ceramics and the government was able to achieve impressive results in the extraction and beneficiation of other major and minor minerals.
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The APMDC was on the verge of getting three blocks out of eight coal mines allocated by the Central government. Bauxite, barytes, uranium and siluminite were plentiful in the State and due attention was paid to their exploration and development. AP Government Secretary (Mines) and APMDC Chairman B. Sreedhar said ceramics, glass, titanium, cement, granite, ferro-alloys, iron and beach sand were identified as the thrust areas and a concerted effort was being made to get prospective entrepreneurs to partner with the APMDC and foray into the Sunrise State on their own through different business models.
All the proposals have to go through the mandatory public auction system as per the new Mines and Minerals (Development and Regulation) Rules, 2015. APMDC Vice-Chairman and Managing Director Ch. Venkaiah Chowdary and A.P Industrial Infrastructure Corporation Limited Executive Director B. Subba Rao were among those present.