Centre takes up reins of mine prospecting
Business Standard|July 01, 2024
The Centre has introduced a new scheme allowing itself to issue mineral exploration licences for all major minerals, excluding atomic minerals, to private agencies.
NITIN KUMAR
Centre takes up reins of mine prospecting

Previously, this responsibility rested with mineral-rich states.

According to a Ministry of Mines notification dated June 27, the scheme for engagement of notified private exploration agencies (NPEA) in mineral exploration, administered through the National Mineral Exploration Trust (NMET), enables the Union government to directly grant mineral concessions for a full spectrum of exploration activities, from reconnaissance to prospecting operations.

In 2016, the Centre launched the National Mineral Exploration Policy to promote private sector participation in mineral exploration.

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