Mines dept set to meet Rs 8k crore revenue target

Speaking to TNIE, Director of Mines and Geology VG Venkata Reddy said, “We need to focus on major minerals to increase the revenue.
Image used for representational purpose only.
Image used for representational purpose only.

VIJAYAWADA: With a target to achieve `8,000 crore revenue in the current fiscal, the Mines and Geology Department has started exploring all means, including adopting the best mining practices of other States. The mines department and the AP Mineral Development Corporation (APMDC) had earned a revenue of `4,500 crore in the last fiscal. However, officials are confident of achieving nearly double the revenue target for the current fiscal.

Speaking to TNIE, Director of Mines and Geology VG Venkata Reddy said, “We need to focus on major minerals to increase the revenue. The revolutionary reforms unveiled by the State government in the mining sector will certainly enable us achieve the set target.”

The revenue is expected to increase as the APMDC has commenced mining operations in the newly bagged Suliyari coal block in Madhya Pradesh and Brahmadiha coal block in Jharkhand. The mines department has also completed the lease process of 21 major mineral blocks and leased out eight minor mineral blocks.

It has also come up with e-auction for minor minerals and set to sanction 2,000 new leases. As there is a requirement for 30 lakh survey stones by next December for the Jagananna Saswatha Bhu Hakku - Bhu Raksha Scheme, the APMDC has already set up a unit at Ballikurava in Prakasam district to meet the demand. Four more units will be set up in Chittoor, Anantapur, Srikakulam and Anakapalle to produce survey stones, the Director said.

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