Ministry of Mines Announces Key Initiatives to Boost India's Mineral Exploration Sector

The Ministry of Mines is committed to fostering innovation, supporting emerging technologies, and exploring critical minerals crucial for the nation’s growth.

At the 6th Governing Body meeting of the National Mineral Exploration Trust (NMET), held at Dr. Ambedkar International Centre in New Delhi, the Ministry of Mines, led by Union Minister Shri G. Kishan Reddy, unveiled several strategic initiatives to advance India’s mineral exploration sector. The meeting reviewed NMET’s performance for the financial year 2023-24 and highlighted notable achievements.

Enhancement of NGDR Portal: Shri Kishan Reddy announced the enhancement of the National Geoscientific Data Repository (NGDR) Portal. This initiative aims to improve collaboration among the Geological Survey of India, Directorate of Hydrocarbons, and the Department of Atomic Energy, facilitating better use of geoscientific data for national development.

Reimbursement Schemes: NMET has introduced a revised scheme for Partial Reimbursement of Exploration Expenses, increasing the ceiling to ₹8 crore for Composite License (CL) holders. A new reimbursement scheme for Junior Mining Companies offers up to ₹20 crore for Exploration License (EL) holders. These measures are designed to encourage increased participation in exploration activities.

Support for Affected Districts and Start-ups: NMET will offer 1.25 times the standard Schedule of Charges for fieldwork in Left Wing Extremism-affected districts. The trust is also extending support to start-ups and MSMEs through the S&T PRISM scheme, focusing on advanced technologies such as Artificial Intelligence, automation, and drones.

Incentives for Critical and Strategic Mineral Exploration: A 25% exploration incentive has been introduced for agencies involved in discovering Critical and Strategic Minerals. This initiative aims to enhance efforts in these crucial areas, promoting self-reliance in mineral resources.

Additional Initiatives:

Shri Kishan Reddy urged States to establish State Mineral Exploration Trusts to encourage exploration of minor minerals. He assured full support from the central government and recommended studying existing state models.

Emphasis was placed on the need for workshops and roadshows to raise awareness of NMET schemes and maximize their utilization.

The Minister also called for expediting exploration projects in Jammu and Kashmir and other mineral-rich states, advocating for cooperative federalism to support India’s journey towards self-reliance.

Minister of State for Coal and Mines Shri Satish Chandra Dubey praised NMET for advancing the mineral exploration sector and called for a unified effort to achieve ‘Aatmanirbharta’ (self-reliance) in mining. He highlighted the importance of seminars and workshops at the state level to fully leverage NMET’s initiatives.

These comprehensive initiatives are expected to strengthen India’s mineral exploration sector, ensuring sustainable development and efficient resource management. The Ministry of Mines is committed to fostering innovation, supporting emerging technologies, and exploring critical minerals crucial for the nation’s growth.