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FIPB issues mining licences totalling Rs 2700 crore The foreign Investment Promotion Board (FIPB) has so far cleared 44 mining proposals totalling an investment of about Rs 2700 crore. The majority of the FIPB approvals have been given to the private sector companies from Australia, North America, South Africa and the UK. The government has also issued 34 aerial prospecting licences covering 50,000 square kilometres to various international companies.