Don't stop mining, provide alternatives to displaced: FM

Moneycontrol.com, Sept 24, 2010


With reference to the recent cancellation of approval for Vedanta's mining project in Orissa, Finance Minister Pranab Mukherjee says that instead of stopping mining activity, alternatives should be provided to the displaced. The comments come even as a group of ministers (GoM) headed by Mukherjee is considering a mining ministry proposal to share 26% mining profits with those displaced by mining activity.

"Answer does not lie in the companies stopping mining activities. Answer lies in providing alternatives to those displaced-in what form we can compensate them and make them beneficiary of economic development-that is the challenge. And for that we are addressing the issue," Mukherjee said.
Don't stop mining, provide alternatives to displaced: FM
Coal Minister Sriprakash Jaiswal, also came out in support of the profit sharing mechanism.

"The proposal is good for everyone who lost their land. We support the proposal," he said.