The mineral resources in India consist of Coal, Iron ore, Manganese, Mica, Bauxite, Titanium ore, Chromite, Diamonds, etc. India is the third largest producer of Coal and Lignite & Barytes and the largest producer of mica in the world. India is also ranked among the top producers of Iron ore, Bauxite, Manganese ore and Aluminium. In 2003-2004 India has produced 355 million tones of coal all of which has been consumed internally. Coal India Limited is a State owned company which contributes a bulk percentage in the Coal production. It owns 390 coal mines in the country. Singerani Collieries Company is another major coal producer in the country. Explorations for base metals, diamonds, mineral sands and gold are carried out by several private companies. Presently, the Indian mining industry employs more than 1.1 million people. There are 2,326 private and 292 public operating mines in the country. Minerals constitute 16 percent of India’s exports. The enriched reserve of mines and minerals has played a significant role in the industrial development of the nation. The operation of the mining sector in India is governed by the Mines and Minerals (Development and Regulation Act, 1957, the Mines Act, 1952 and the rules and regulations framed under them. The Government has also formulated the National Mineral Policy for the management and development of the mineral resources in the country. According to the provisions of the Constitution of India both the Central Government and the State Governments are responsible for Management of mineral resources in the country.
