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Scheme to expedite the exploration of critical minerals
December 24 , 2023
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- The Ministry of Mines has introduced a new scheme to expedite the exploration of critical and deep-seated minerals.
- It aims to eliminate delays in project approvals, accelerate project execution, and encourage larger companies and international players to engage in exploration projects with NMET funding.
- The ministry of Mines will directly sanction exploration projects to Notified Private Exploration Agencies (NPEAs).
- These NPEAs are now permitted to bid for auctioning mineral blocks they have explored, a privilege previously unavailable to them.
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