National Mineral Policy - Conservation of Mineral Resources and Necessity for Beneficiation

THE mineral resources of a country are its non-replenishable assets. A well planned programme for
their systematic and optimum utilisation is the basic requirement for its steady industrial growth and
economy. Prior to the attainment of national independ-
ence to India, the policy of the then existing Govern
ment in regard to ores and minerals was to encourage private enterprise to explore and exploit mineral
wealth according to their own right, without any inter-ference from the Government except, in so far as safety and welfare of workers are concerned, through the
medium of Indian Mines Act 1903 and 1923. As such most
of the mineral exploitation was largely in the hands
of foreign capital and Indian minerals were primarily meant for export and international trade as feeders to
foreign industries. If this were continued for some
more years most of the nation's mineral assets would
have been depleted.