India has one of the finest mineral potential in the world. It has proven resources of coal, iron, bauxite, titanium, chromite, diamonds and limestone. It also has significant amount of gold, copper, lead, zinc, silver and rare earth metals.
Indian production has been quite low compared to the potential. According to a Ernst & Young Report in 2011, India has explored just 7-9% of its mineral resources. India has a long history of mining with the detailed mining knowledge mentioned in Vedas. It remained one of the largest producers of minerals since history.
Government has taken significant steps to open up and deregulate the sector. However, a lot more needs to be done and it opens up tremendous opportunities for private investment.
Techno Mines was one of the pioneers in the segment that entered the fray just at the time the sector was beginning to open up. The company has identified several traditional and semi-explored areas that have a potential of being commercially exploited.
These areas were explored earlier by Indian government agencies such as Geological Survey of India, Mineral Exploration Corporation Ltd, Hindustan Copper Ltd and state-mining agencies. With the rise in metal prices many of these areas are now commercially exploitable.