Union Government approved National Mineral Exploration Policy to accelerate activity in the country

Union Government approved National Mineral Exploration Policy to accelerate activity in the country.

Aim: Motivating the exploration activity in the country through improved participation of the private sector.

Focus: To make use of full mineral energy such as non Fuel and non Coal to the extreme and maximize sectoral contribution to the Indian Economy.

Fund Allocation: Rs.2116 crore over 5 years

Highlights of the Policy:

1. Providing platform for Geo-scientific Data of world standards in the public domain
2. Quality research in a Public-Private Partnership
3. Initiatives for search of deep seated and concealed deposits
4. Fast mode Aero-Geophysical surveys
5. Generation of a geo-science database

Features:

1. Auctioning of recognized exploration blocks will be conducted by The Ministry of Mines
2. Creation of platform for geo-scientific data for open dissemination free of charge
3. Conduct the National Aero-geophysical Program for targeting concealed mineral deposits
4. A National Geo-scientific Data Repository to be formed to collate information generated by both Union and State and maintain geo-spatial database

National Centre for Mineral Targeting to be set up with Science and research bodies, universities and industry for scientific and technological research to address the mineral exploration challenges in the country.