Mining and Metal Industry

India spreads over a geographical area of 3.29 million square kilometers, which is about 2.5 percent of the globe and makes the country the seventh largest in the world. The metal and mining industries constitute the bedrock of industrial development as they provide the basic raw materials for most of the industries. India produces as many as 84 minerals comprising 4 fuel, 11 metallic, 49 nonmetallic industrial and 20 minor minerals.

Based on the overall trend so far the index of mineral production (base 2004- 05) for the year 2014-15 is estimated to be 127.7 as compared to 124.7 for 2013- 14 showing a positive growth of 2.4%.

The Indian mining & metal industry is characterized by a large number of small operational mines. The number of mines which reported mineral production (excluding minor minerals, petroleum (crude), natural gas and atomic minerals) in India was 3318 in 2014-15. Out of 3318 reporting mines, 498 were located in Rajasthan followed by Andhra Pradesh (444), Gujarat (362), Madhya Pradesh (326), Tamil Nadu (272), Jharkhand (250), Chhattisgarh (201), Karnataka (178), Odisha (173), Maharashtra (150), Telangana (145) and West Bengal (120). These 12 States together accounted for 94% of the total number of mines in the country in 2014- 15.

The insurance policy for mining & metal covers the following:

Desired Product for entities in sector:

• Directors and Officers liability insurance policy for Mining and Metal Industry
  
• Crime Insurance Policy for Mining and Metal Sectors
  
• Commercial General Liability Insurance Policy for Mining and Metal Industry
  
• Pollution Legal Liability Insurance for Mining and Metal Sectors
  
• Contract Works insurance (CAR/EAR/CPM/ALOP)
• Group Personal Accident Insurance for Mining and Metal Industry
  
• Group Overseas Travel Insurance for Mining and Metal Sector
  
• Kidnap/Ransom and Extortion Insurance for Mining and Metal Industry
  
• Credit Insurance Policy for Mining and Metal Sectors
  
• Terrorism Insurance