India produces 86 major minerals, contributing about 2.5% to India’s GDP. According to Economic Survey 2010-11, mining and quarrying grew at around 6% in 2010-11 compared with a growth of 1.3% in 2008-09. Indian mining industry is characterized by a large number of small operational mines. The majority of Indian Mines are located in the state of Andhra Pradesh, Gujarat, Jharkhand, Madhya Pradesh and Maharashtra, consuming more than 50% of Indian mining sector. These states are covering major number of coal bocks of India which is having tremendous need for power sector.
Montecarlo focused in the Tenders for Mine Developer cum Operator (MDO) for Open Cast Projects for removal of Over Burden and Extraction of Coal / Lignite from Mines in India. The activities in the said director was started early since 1997-98 and captured its pace with coal blocks opportunities in 2009 due to introduction of a competitive bidding process for allocating coal blocks for captive mining and establishment of Coal Regulatory Authority to create a level playing field in the coal sector.
The company has executed many industrial OB removal and excavation projects from various private and public bodies including current projects under subsidiaries of Coal India Limited. Presently, Mining team of Montecarlo is exploring various opportunities in Removal of Over Burden & Bulk Material Handling Technologies and Extracting Coal and other minerals from open cast mines.