The Indian Government has established a panel to renovate the Indian Bureau of Mines (IBM) for enhancing its role to meet the projected growth in the mining sector, including increased inflow of capital.

The country’s Minister of Mines, BK Handique, said the IBM will have to reinvent itself from being a mere regulatory authority to become a techno-economic facilitator for orderly growth of the mineral sector, reports tradingmarkets.

A committee has been set up to restructure the IBM to enable it to meet future challenges and facilitate proper implementation of the new mineral policy.

The IBM is handling the task of promoting systematic and scientific development of mineral resources of the country by means of regulatory inspections of the mines, approval of mining plans and environment management plans.