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Mining of atomic minerals to be opened up to private sector

The government, like it did with hydrocarbons, is set to open up exploration and production of atomic minerals to private mining companies.It is part of a strategy to increase domestic supplies of fuel as the country readies to expand its nuclear power generation capacity, Balvinder Kumar, secretary in the ministry of mines, said.India currently has a 5.7 gigawatts (GW) nuclear power generation capacity, which barely accounts for 2% of the total power capacity but is expected to witness a sharp increase over the next 16 years as the country moves away from fossil fuels for its energy needs.The Department of Atomic Energy’s target is to have 63GW of nuclear power capacity by 2032.Fossil fuels account for 71% of the electricity output and the government wants to bring it down to less than 60% by 2030 as per its climate change action plan.

The Mines and Minerals (Development and Regulation) Amendment Act of 1957, which was amended in March 2015, provided for the auction of mining leases except for atomic minerals, for which the government was empowered to frame separate rules. “We are now addressing that part that was left out, in order to usher in competition and transparency in the case of atomic mineral leases. This will help us tap resources that are available domestically, so that imports can be reduced,” said Kumar.