Nationalise Mineral Resources: CPM

BHUBANESWAR: The CPM on Tuesday demanded nationalisation of the mineral resources of the State. The State will directly benefit if it goes for global tender for mining instead of leasing out mines to individuals and industrial houses setting up mineral based companies, said CPM State general secretary Janardan Pati at a media conference here. “Such a move will not only pave the way for the State to garner its entire revenue needs but also meet its entire annual budgetary requirement, Pati said.While the State’s annual budgetary requirement is about ` 42,000 crore, the State will have surplus revenue which can be utilised for social services.The annual production of minerals is about 80 million tonnes out of which 17 million tonnes of ores are exported. The earning from royalty of coal and other minerals is paltry compared to the actual worth of the minerals which is shared by mine owners, individuals and companies who are raising ores, transporters and industrial houses using the natural resources as raw materials.According to a rough estimate, the annual earning of the State from mineral resources will be to the tune of ` 50,000 crore which is more than enough to take care of the budgetary needs of the State, Pati said.Demanding the cancellation of mining lease to private firms, the CPM leader asked the Government to bring all mineral resources under its control. Such a move will stop all irregularities like illegal mining and theft of minerals. Besides, nationalisation of mineral resources will ensure maximum benefit to the state.Alleging that private companies, including Korean steel major Posco and Vedanta, have come to the State to loot its mineral wealth, Pati said that the private investors coming to the state to set up mineral-based industries should be asked to buy raw materials at the prevailing market price. This will provide a level playing field to all the stakeholders.He also alleged that the mines mafias were manipulating the system and were making huge amounts of money through illegal means. They have become a threat to the socio-economic and political life of the State and this should be stopped at all costs.