Mineral Economics: An Indian Perspective

Kirtikumar Randive and Sanjeevani Jawadand
RTM Nagpur University, R.B. D. Laxminarayana Campus, Law College Square, Nagpur, Maharashtra, India

Series: Geology and Mineralogy Research Developments
BISAC: SCI031000, SCI048000

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Special issue: Resilience in breaking the cycle of children’s environmental health disparities
Edited by I Leslie Rubin, Robert J Geller, Abby Mutic, Benjamin A Gitterman, Nathan Mutic, Wayne Garfinkel, Claire D Coles, Kurt Martinuzzi, and Joav Merrick

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The book provides an overview of the mineral industry, policy issues, related acts and legislation and the socio-economic scenario of the mining sector. It gives an understanding of historical development of policies and the position of Indian mineral sector with respect to other industrialized nations that can help the mineral industry to become globally competitive. It also evaluates the contribution of the mining sector to sustainability and development of both.

This book provides a comprehensive picture of the mineral sector, challenges faced by the industry and sustainable development of mineral resources. It is primarily based on the information made available by the government agencies in the public domain. However, such information is sporadic, inconsistent, and difficult to interpret. Continuous mining of minerals, the discovery of new mineral deposits, and import-export-stockpiling of minerals greatly influences the economics of mineral commodities. These data must be perpetually updated in order to provide future perspective and frame the policies at the government level. Therefore there is always a need for an updated, compiled and properly interpreted database in respect to the contemporary world scenario. It is in this perspective that the proposed book has been designed.
(Imprint: Nova)

Preface

Section I: Mineral Resources

Chapter 1. An Overview of the Mineral Resources of India

Chapter 2. Rare Earths-Bearing and Other Strategic Minerals

Chapter 3. Surplus, Sufficient and Deficient Minerals

Section II: Legal Framework with Respect to Mining Sector

Chapter 4. Acts and Legislations

Chapter 5. India’s Five Year Plans Vis-À-Vis Mining Sector

Chapter 6. National Mineral Policy

Chapter 7. Resource Securitization, Resource Nationalism and Resource Curse

Section III: Socio-Economic Perspective

Chapter 8. Employment in Mining Sector

Chapter 9. Environmental Issues

Chapter 10. Illegal Mining

Chapter 11. Mineral Waste

Chapter 12. Sustainable Mining

Index

"Mining has been of great significance to national economy; however, it comes with a heavy cost of environmental degradation and other socio-economic concerns such as occupational health hazards and illegal mining. This book provides in-depth analysis of mineral resources making use of statistical tools effectively and highlights current trade practices in India. I congratulate Dr. Randive and his student Miss Jawadand for bringing this valuable text on mineral economics, which will benefit students and policy-makers alike.” - Dr. Siddharthavinayaka P. Kane is presently Vice-Chancellor of Rashtrasant Tukadoji Maharaj Nagpur University, Nagpur, India

“Mineral economics is a well-recognized specialized discipline that investigates and promotes understanding of economic and policy issues associated with the production and use of mineral commodities. This book provides addition to the growing literature in the field of mineral economics by broadly dividing it in three parts i.e. Mineral Resources, Legal Framework with respect to Mining Sector and Socio-Economic Perspective and twelve chapters, keeping in view the need of post-graduate students of pure and applied geology. This book will add the few books available on Mineral Economics by highlighting various aspects and making dedicated chapter on an overview of the mineral resources of India, Rare earths-bearing and other strategic minerals, surplus, sufficient and deficient minerals, Acts and legislations with respect to mining sector, India’s Five Year Plans Vis-À-Vis Mining Sector, National Mineral Policy, Resource Securitization, Resource Nationalism and Resource Curse, Employment in mining sector¸ Environmental issues, Illegal mining, Mineral waste and Sustainable mining. I hope this book meets the great and long awaited demand of students to acquaint themselves with concept of mineral economics and to understand its niceties and intricacies to become leading scholar as a Mineral Economist. The language of the book is very simple and incisive. I understand that curriculum and examination pattern of universities is kept in mind while writing this book. I wish the authors as well Publisher of the Book all success.” - Dr. P.K.Jain, Chief Mineral Economist, Indian Bureau of Mines

“Mineral commodities have once again come into focus of political and economic discussions worldwide, as the transfer to a fossil-free future has started. Some countries will benefit, others might become losers when this development gains momentum. However, regardless of which, the scientific field of mineral economics is becoming more important than ever. India is one of the world’s largest producer and user of minerals and metals. This comprehensive and up-to-date handbook gives a solid foundation for students and practitioners at all levels, both in India and over-seas, who need to understand the crucial role of minerals in Indian economics.” - Professor Magnus Ericsson, adjunct professor of mineral economics, Luleå University of Technology, Sweden and founder RMG Consulting

“This is a book of great value for academics and practitioners in mining. While covering most minerals, it provides a good historical and legal perspective of mining in India. I found it commendable that it considers the growing problem of mining waste as well as illegal mining, a curse in India.” - Rahul Basu, Research Director, Goa Foundation

“This book expertly binds economics, policy & governance, and societal impacts associated with India’s mineral wealth. A crucial combination rare to find. I am delighted that author came up with this brilliant piece of work. It is a complete guide providing an in-depth overview of how mineral resource connects with environment safeguard as well as national security following the principles of sustainability and inclusive policy planning. Highly recommended for universities and policymakers!” - Vaibhav Gupta, Author of Critical Non-Fuel Mineral Resources for India’s Manufacturing Sector: A Vision for 2030

Keywords: Sustainable mining, mineral policy, strategic, resource curse, resource nationalism, mineral waste

This book is written for post-graduate level students, mining geologists, and researchers. The field geologists, bureaucrats, policy makers, mining engineers, and professionals in mineral sector will find it useful in their work. It may be of interest to non-specialists; because of a succinct overview of the entire mineral resource landscape. This book covers a subject that is taught in the universities at post-graduate level in most parts of the world. In India the subject Mineral Economics is taught in Geology, Applied Geology and Mining courses.

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