India to seek $15 billion of investment to double mining output

India expects to woo 1 trillion rupees ($15 billion) of investment over five years to double mining output and cut mineral imports.

The government’s goal is to fast-track exploration, including upfront payments for discovered deposits when the mines are auctioned, Mines Minister Piyush Goyal said in an interview. The administration will invite foreign companies to participate, he said, while acknowledging challenges such as land acquisition and environmental hurdles.

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