As mentioned by the ministry of Mines Secretary, Mr. J.P. Singh, at the 42nd meeting of the Central Geological Board in New Delhi yesterday, India seems to be churning a lot of interest with foreign companies keen to invest in mining activities in India.
Singh is optimistic of an increased foreign direct investment (FDI) inflow into the mining sector, and has called on for a more enthusiastic exploration and prospecting for minerals.
The Central Geological Board, is the national apex body, which overviews the geoscientific activities including mineral exploration in India. It had reviewed the Annual Programme of the Geological Survey of India (GSI) for 2007-2008 and noted some key assessments, including that of two additional gold ore resources - a 0.48 million tonnes in the Tumkur district of Karnataka and 7.32 million tonnes in the Banswara district of Rajasthan. Two kimberlite pipes have also been located each in Mahbood Nagar and Timmasamumdran in Andhra Pradesh.
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