On August 18, 2021, the Ministry of Mines (MoM) adopted the scheme for accreditation of private exploration agencies developed by the National Accreditation Board for Education and Training of the Quality Council of India (QCI-NABET).
- Under this, QCI-NABET will grant accreditation to private exploration agencies for undertaking prospecting operations of minerals in accordance with the standards and procedures of the scheme.
- After the accreditation, the respective private exploration agency apply to the Ministry for their notification under the second provison to sub-section (1) of section 4 of the Mines and Minerals (Development and Regulation) Amendment Act, 2021.
In March 2021, the Mines and Minerals (Development and Regulation) Act, 1957 or MMDR Act was amended through the MMDR Amendment Act, 2021 empowering the Central Government to notify entities, including private entities that may undertake prospecting operations of minerals.
- At present, only Government agencies are involved in exploration. Now with the entrance of private entities, the pace of exploration will increase along with creation of employment opportunities in the sector and bringing more explored blocks for auction.
Recent Related News:
Mineral Exploration Corporation Ltd (MECL), a Mineral Exploration Agency under MoM signed a Memorandum of Understanding (MoU) with Directorate of Mines & Geology (DMG), Goa for exploration of Iron ore reserves in Goa.
About Ministry of Mines:
Union Minister – Pralhad Joshi (Constituency – Dharwad, Karnataka)
Minister of State – Raosaheb Patil Dadarao Danve (Constituency – Jalna, Maharashtra)