VIJAYAWADA: Asserting that the reforms in the mining sector yielded results, Mines and Geology Minister Peddireddy Ramachandra Reddy said that as against the Rs 4,500 crore revenue target, the mining department generated a revenue of Rs 4,692 crore in 2022-23 fiscal.
During a review with the officials of the mines department and the AP Mineral Development Corporation (APMDC) in his camp office at Vijayawada on Tuesday, Peddireddy while congratulating the officials for crossing the prescribed revenue target said that while 81 per cent revenue achieved in major minerals, 125 per cent revenue generated on minor minerals.
Stating that the government rolled out revolutionary decisions to encourage new enthusiasts into the mining sector, the Minister said e-auction process was in the stage of completion with regard to 405 mining areas out of the e-auction notification issued for 539 mining areas in the previous fiscal.
He further said that the APMDC doubled its revenue from 902 crores in 2021 - 21 to Rs 1,801 crore in 2022 - 23. A target of Rs 2,137 crore was fixed as the target for the APMDC in fiscal 2023-24.
Informing that all the steps being taken for starting mining operations in all the non-working leases across the State, the Minister said out of the total 4,222 leases, mining is being done in 3,142 leases and steps are on to commence the operation in another 1,080 leases. Once mining operations were started in all leases, it would be beneficial to the industries, generating employment opportunities for the local youth besides generating revenue for the government, he observed.
While saying that 1.9 million tonnes of coal was mined through the APMDC from Suliyari mines in Madhya Pradesh last year and generated a revenue of Rs 483.5 crore revenue, he said Rs 1,624 crore revenue is targeted for fiscal 2023 - 24. He said that the Rs 1,000 crore revenue milestone was crossed after mining 3 million tonnes of barytes from Mangampet mines in 2022 - 23.