NATIONAL MINERAL EXPLORATION TRUST (NMET)

  • With an objective to boost the mineral exploration activities in the country, Central Government established ‘National Mineral Exploration Trust’ (NMET) which since its inception has been funding various Notified Exploration Agencies to carry out exploration projects across the country.
  • Accordingly, NMET has issued General Instructions dated 24th February, 2021 to NEAs for submission of proposals along with detailed cost estimates based on the Schedule of Charges (SoC) of NMET for mineral exploration through NMET funds along with a certificate of actual status of proposed block area/land (whether free hold/ lease hold/ reserved by the State).
  • Now, it has been observed that there is considerable delay in a number of cases in providing the certificate of the actual status of proposed block area/land (whether free hold/ lease hold/ reserved by the State) from the State authority concerned.
  • This has caused unnecessary delay in starting mineral exploration in the country. Therefore, General Instructions are further clarified for submission of the project proposals for NMET fund as given below: –
  • The Mineral Exploration Corporation Ltd.(MECL) and other notified CPSUs shall send the request letter to State Government for certificate regarding the actual status of proposed block area/ land (whether free hold/ lease hold/ reserved by the state) from the State authority.
  • The State Government shall provide the certificate regarding the actual status of proposed block area/ land (about free hold/lease hold) within 60 days.
  • In case of non-receipt of certificate from State Government after 60 days, the project proposal may be submitted to NMET Secretariat for technical and financial evaluation in technical cum cost committee (TCC).
  • The Director, Directorate/Department of Mines and Geology, State Government will be invited to attend the  TCC meeting to clarify about the status of proposed block area (about free hold/lease hold) during technical evaluation of the project proposal.
  • Based on techno-economic suitability, approval will be accorded for carrying out exploration work for the project proposal.
  • Before starting the exploration work, MECL and other notified CPSUs shall confirm that the block area is not under any lease hold and that any other State/Central/Private exploration agencies have not taken up exploration work in the proposed block area.
  • This important initiative has been taken by the Ministry of Mines in order to expedite mineral exploration in the country and will help in achieving self-reliance in minerals and promoting economic growth and employment.

SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB

About ChinmayaIAS Academy - Current Affairs

Check Also

INDIA’S FIRST PRIVATE SPACE LAUNCHPAD

Agnikul, the Chennai-headquartered space tech start-up, has established India’s first-ever launchpad for a private launch …

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Free Updates to Crack the Exam!
Subscribe to our Newsletter for free daily updates