Take society on board, return mined out land to oustees, says Dr TK Chand

Bhubaneswar: Mining needs to be done for the benefit of the society and it should be taken on board, said Vedanta Limited, President Tapan Kumar Chand at the 2nd Indian Mining Conclave held yesterday at Mayfair Convention Hall here.

While addressing the valedictory session, Dr T K Chand said that mining needs to be done for the benefit of the society and society need to be taken on board. Wrong perception of mining is a colonial legacy of sketchy and patchy mining done during pre Independence era and in post Independent India and more particularly in contemporary time of new India. Mining Community is taking multifarious initiatives to bring change in mindset and cultivate support of the people.

Elaborating on various initiatives taken like scientific mining, sustainable mining etc, he quoted the sayings in Artha Sastra of Chanakya that people forget the loss of their parents but they will not forget the loss of their property. Therefore loss of landed property for mining is a painful experience for the project affected people. This can be mitigated by making a provision for return of land to the land oustees after mining is over and land is reclaimed. Similarly, he also flagged off the need for introducing equity ownership through Stakeholders Stock Option (SSOP) in the same line of Employees Stock Option (ESOP). Linking the interest of land oustees with the prosperity of the mining company will help in making seamless mining. Along with developments in mineral bearing areas through CSR and DMA funds, the pathbreaking measures like return of mined out and reclaimed land to land oustees and stock option for stakeholders will help in boarding the society which is so far lacking.

The conclave was organised by Indian Chamber of Commerce (ICC) in association with OMC and top corporates. The conclave was inaugurated by Governor Prof Ganeshi Lal as Chief Guest with D K Singh, Additional Chief Secretary, Sanjay Kumar Mishra, Special Secretary to Govt of Odisha, Arun Mishra, Executive Director, Vedanta, T K Chand, President, Vedanta, Sashi Sekhar Mohanty, MD and CO, ESSAR Minerals as Guest of Honour and other top corporate managers as special invitees.

There were three technical sessions by experts from the industry, Govt and trade bodies. The valedictory session was addressed by Dr T K Chand as Guest of Honour with other dignitaries. The conference focused on sustainable mining, logistics challenges, application of new technologies and other subjects.

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