India is a country with abundant mineral resources - 1,531 operating mines and produces 95 minerals – 4 fuel-related minerals, 10 metallic minerals, 23 non-metallic minerals, 3 atomic minerals, and 55 minor minerals. India is the third-largest producer of coal. The country ranks fourth in terms of iron ore production globally and has around eight percent of the world’s deposits of iron ore. According to the Ministry of Mines, India has the 7th largest bauxite. The Government of India has allowed 100 percent Foreign Direct Investment (FDI) in the mining sector and exploration of metal and nonmetal ores under the automatic route, which will positively impact growth within the industry. The driving factors that will propel growth in the sector are transitioning and diversifying to low-carbon emitting alternatives, accessibility to resources, new ways to finance mining, the geopolitics of mining, modern mining workforces, local laws, and regulations, integrating new technological developments, risk management, and data analytics. Hence, the metal and mining sector has huge potential to boost economies worldwide.
Metals & Mining Industry Challenges
- Regulatory Challenges: The transfer of mining leases is difficult. The system lacks transparency. Getting agency approvals is a time-consuming process.
- Lack of Infrastructure: Many mines are located in remote areas leading to logistics and transportation issues.
- Sustainability: There are environmental concerns in the regions where mines are set up. The adverse effects on the environment and the community, in general, need to be minimized to make mining sustainable.
How We Can Help
From managing reverse e-Auctions for transportation, outsourcing contracts and wagon loading to other critical elements of electronic tendering C1 adds value by helping you procure at competitive prices in a thin procurement timeline through a stream lined and fair process. Having executed more than 2 million e-Tenders for Indian and international businesses, we bring the best practices and leadership experience in e-Procurement and e-Auctions space.
C1’s comprehensive e-Procurement suite includes inventory and indent management, e-Auctioning, e-Sourcing, vendor management, contract management, and risk management. With the focus of providing you the liberty to transform your supply chain as suitable to your requirements, we also provide actionable insights derived from our analytical tools such as expense management, budget, and spend analysis.
We have assisted some of the biggest companies in the Metals & Mining sector. Our clients include:
