State Loses Potential Revenue of Rs 60,000 Crore as Mines Remain Dormant
Key Points:
• Only 737 out of 4541 mines currently operate in Jharkhand
• Annual mining revenue lags behind Odisha by Rs 40,000 crore
• West Singhbhum operates just 8 out of 79 iron and limestone mines
RANCHI – Jharkhand faces significant economic losses as over 3,800 mines remain closed despite massive mineral wealth.
The state’s mining sector shows concerning inactivity patterns. Only 16% of mines currently operate.
Meanwhile, neighboring Odisha demonstrates remarkable growth. Its mining revenue increases steadily each year.
Moreover, Jharkhand’s mining sector employs just 20,000 workers currently. This represents massive untapped potential.
Mineral Resources Overview
The state possesses vast deposits of strategic minerals. These include coal, iron, copper, and uranium.
Additionally, Jharkhand holds 40% of India’s mineral reserves. This positions it advantageously for growth.
Furthermore, the state has significant rare earth elements. These could boost technological industries.
Regional Disparities
Odisha’s mining sector shows impressive performance. Its revenue grows consistently yearly.
In contrast, Jharkhand’s mines face operational challenges. Many remain closed despite viable resources.
“Regulatory reforms could transform our mining sector,” suggests an industry expert.
Future Prospects
The state plans policy revisions for mining. These aim to attract new investments.
Moreover, modernization efforts are underway. These could improve operational efficiency.
On the other hand, environmental concerns require attention. Sustainable mining practices need implementation.
