Centre for Science and Environment (CSE) released its report on profit sharing in Ranchi, Jharkhand on August 5, 2011. The report is a detailed analysis of the profit sharing mechanism, international practices being followed in different countries, the need for profit sharing, etc.
Report supports proposal to share 26 per cent net profits of mining companies with local communities
Coal mining firms will now have to share 26 per cent of profits with local people
Important step towards inclusive growth, says CSE
Mining companies must share profits with local communities: latest CSE report comes out in support of proposal to share 26 per cent net profits
Says the money generated from this will go a long way in reducing poverty and deprivation in the mining affected areas
Centre for Science and Environment (CSE) releases its report on profit sharing in Bhubaneshwar, Odisha on June 24, 2011. The report is a detailed analysis of the profit sharing mechanism, international practices being followed in different countries, the need for profit sharing, etc.
It is now well recognised across the world that wealth generated by the mining sector comes at a substantial development cost, along with environmental damages and economic exclusion of the marginalised. This has also been exhaustively documented in India. In fact, the major mining districts of India are among its poorest and most polluted. Considering the negative externalities of the mining sector, new policies and practices are being explored and implemented across the world to ensure that mineral wealth can be converted into sustainable development benefits for local communities.
CSE in collaboration with Samrakshan Trust, a local NGO working in Meghalaya, organised two workshops (Shillong and Tura) on illegal mining and rat hole mining in the state of Meghalaya.
CSE, in collaboration with Ekta Parishad, conducted a roundtable in Rourkela (Kalunga) on the MMDR (draft) Act 2010. The objective was to expose the direct stakeholders like affected people and grassroot level NGOs to the draft act and the special provision of 'profit sharing'. The meeting was attended by stakeholders from the states of Chhattisgarh, Odisha and Jharkhand. The meeting opened with a presentation from Chandra Bhushan, deputy director general, CSE on the provisions of the act and what they might imply.
Note by the Centre for Science and Environment, based on extensive research published in its book, Rich Lands, Poor People: is ‘sustainable mining possible?
August 2010