Need to attract investments for regional exploration of minerals: Govt

Need to attract investments for regional exploration of minerals: Govt

The government today said there is a need for attracting investments and private exploration agencies in regional exploration.

“Keeping in view the immense untapped mineral potential of the country, it was realised that there are many areas that need further facilitation,” an official statement said.

The compelling need to provide an impetus to exploration activity in the country at this juncture has prompted a thorough review of the government’s Exploration Policy and strategy, it said.

Accordingly, the new National Mineral Exploration Policy has been notified in July 2016 with a view to provide a new set of objectives, sense of purpose and direction within the amended legal framework. It is aimed at attracting private exploration agencies.

Power, Coal and Mines Minister Piyush Goyal chaired a meeting of the parliamentary consultative committee attached to the Ministry of Coal and the Ministry of Mines on the issues of ‘mines safety in coal mines’ and ‘initiatives in exploration regime respectively here last evening.

The members of the committee were apprised of the ‘Initiatives in Exploration Regime in the Mines Ministry after it brought about far reaching changes in the mining sector since January 2015 when the Amendment Act of 2015 made the amendments to the MMDR Act 1957.

The members were informed about the measures taken by the Coal Ministry after the recent accident in Rajmahal Open Cast project of Eastern Coalfields Ltd in December last year.

A number of issues concerning safety in coal mines were deliberated upon and members contributed with suggestions.

In a separate statement, the Mines Ministry said that after the success and immense utility of 1st National Mining Conclave on Mines & Minerals, the Ministry is organising the second National Mining Conclave on Mines & Minerals on February 15.

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The Conclave will provide an effective platform to enable intensive discussion among various stakeholders viz. the representatives of central ministries, state governments, mining industries, industry associations, financial & academic institutions and others, on the issues, challenges and opportunities in the mining sector. Read More…

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