Mineral Price Index: A Pragmatic Step for Mineral Development in India
- Rajesh Deoliya [rajeshdeoliya@gmail.com] An Index is indication of a value and performance of an asset and commodity with reference to certain predefined parameters. Index gives idea of behavior of specified commodity or asset in the time and space and help in quick and rational decision making. Index also help in planning purposes in the production schedule of minerals where grade and mineral conservation is prime concern in-turn it also helps in sustainable mining. Therefore, when government of India recently introduced National Coal Index (NCI), it is considered as a pragmatic step to help coal miners and government to decide the coal block bidding parameters. Now there is proposal for National Mineral Index. The National Mineral Policy, 2008 and 2019, says that “the approach shall be to make available mineral based material to domestic users at reasonable prices as determined by market forces”, and further states that “prices...