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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (41907)	8/20/2009 7:14:59 PM
From: LoneClone	Read Replies (1) \| Respond to of 193921

India Aims to Cut Down Mining Licence Wait Times 20 August 2009 mining-technology.com India’s Government plans to simplify its mining laws to attract foreign investment into the sector and cut delays in securing mining licenses, Bloomberg reports. Mines minister BK Handique said the government expects the mining sector to form at least 4% of the nation’s $1.2tn economy, the news service said. “We will introduce a legal framework that ensures sustainable development and includes environment concerns,” Handique said. Handique hopes to double the mining industry’s contribution to the economy and legislation will be presented to parliament later this year. Steel giants ArcelorMittal and Posco have said that $32m-worth of projects are on hold because of difficulties getting mining licenses, Bloomberg said.