National Mineral Exploration Policy Approved by the Union Cabinet.

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The Prime Minister Narendra Modi has approved the National Mineral Exploration Policy (NMEP) . The Union Cabinet chaired by the Prime Minister Narendra Modi. The primary aims of NMEP is fast-tracking the exploration activity in the country through improved participation of the private sector.

Image Shows the National Mineral Exploration

Key Facts:

  • The NMEP pursues to uncover full mineral prospective in order to put the nation՚s mineral resources (non-coal and fuel) for best use and maximize sectoral contribution to the Indian economy.
  • This policy emphasizes on making available baseline geoscientific data of world standards in the public domain and quality research in a public-private partnership (PPP) .
  • It also seeks to cover way for the special initiatives for search of deep-seated and underhand mineral deposits.
  • It also seeks to start fast aero geophysical surveys of country and formation of devoted geoscience database etc.
  • The Union Ministry of Mines will applied auctioning of identified search blocks for exploration by private sector.
  • This policy exploration leads to auctionable resources, it will be done on the revenue sharing basis. The revenue will be allowed by the successful auction-goer of those auctionable blocks.

Features:

Image Shows the Features of Mineral Exploration

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