Under the leadership of Union Minister G. Kishan Reddy, the Ministry of Mines is making significant strides in advancing India’s mineral exploration sector. During the 6th Governing Body meeting of the National Mineral Exploration Trust (NMET) at Dr. Ambedkar International Centre, New Delhi, the performance of NMET for the financial year 2023-24 was thoroughly reviewed.
In this meeting, Shri G. Kishan Reddy, alongside Union Minister Dr. Jitendra Singh and Minister of State for Coal and Mines Shri Satish Chandra Dubey, officially released the Annual Report of NMET for 2023-24. The report showcases NMET’s key achievements in mineral exploration, underscoring its commitment to enhancing India’s resource potential.
- Enhancement of NGDR Portal
Shri Kishan Reddy has spearheaded the enhancement of the National Geoscientific Data Repository (NGDR) Portal, a strategic initiative aimed at improving resource management and national development. This upgrade will enable seamless geoscientific data sharing among the Geological Survey of India, Directorate of Hydrocarbons, and the Department of Atomic Energy, under the guidance of the Ministry of Mines. - Reimbursement Schemes
The NMET Governing Body has approved a revised scheme for Partial Reimbursement of Exploration Expenses, increasing the reimbursement ceiling to ₹8.00 crore for Composite License (CL) holders. To encourage greater participation from Junior Mining Companies, a new reimbursement scheme has been endorsed, offering up to ₹20.00 crore for Exploration License (EL) holders. These initiatives are crucial for advancing exploration activities across the country. - Support for Left-Wing Extremism-Affected Districts and Startups
NMET is actively promoting mineral exploration in Left-Wing Extremism-affected districts by offering 1.25 times the standard Schedule of Charges for fieldwork. Additionally, NMET is supporting startups and MSMEs under the S&T PRISM scheme of the Ministry of Mines, focusing on advanced technologies such as Artificial Intelligence, automation, and drone technology. - Incentives for Critical and Strategic Mineral Exploration
Shri Kishan Reddy announced a 25% exploration incentive for agencies engaged in discovering Critical and Strategic Minerals. This incentive is expected to significantly enhance exploration efforts in these vital areas, contributing to India’s self-reliance in mineral resources.
Minister Reddy also urged states to consider establishing State Mineral Exploration Trusts to encourage exploration of minor minerals, similar to NMET. He assured full support from the central government and suggested studying models of states that have already implemented similar systems.
The Minister emphasized the importance of fostering startups in the mining sector, particularly in areas like AI, automation, and drone technology. He called for workshops and roadshows to raise awareness of NMET’s various schemes and ensure the full utilization of its capabilities.
Shri Reddy also discussed the need to expedite ongoing exploration projects in Jammu & Kashmir and other mineral-rich states, advocating for cooperative federalism to advance India’s journey towards self-reliance.
Minister of State for Coal and Mines Shri Satish Chandra Dubey commended NMET for advancing mineral exploration in India by uniting different exploration agencies. He called on all stakeholders to collaborate in achieving ‘Aatmanirbharta’ (self-reliance) in the mining sector and stressed the importance of conducting state-level seminars and workshops to maximize NMET’s potential.
These initiatives collectively represent a comprehensive strategy to strengthen India’s mineral exploration sector, ensuring sustainable development and efficient resource utilization. The Ministry of Mines remains dedicated to fostering innovation, supporting emerging technologies, and driving the exploration of critical minerals essential for the nation’s growth.
