Mines Ministry approves Rs 1.54 billion for NMET's Exploration

01 Jan 2023

Under the direction of Vivek Bharadwaj, Secretary, Ministry of Mines, the Executive Committee (EC) meeting of the National Mineral Exploration Trust (NMET), Ministry of Mines, was convened.

A total of Rs 1.54 billion worth of projects for improving institutional exploration capacity and mineral exploration were approved. To advance mineral exploration in the nation, a project is being undertaken that includes Graphite, Iron, Coal, Zinc & associated minerals, Bauxite, Basemetal (Pb, Zn & Cu), Phosphorite/Glauconitic sandstone, PGE & associated minerals (Chromium, Nickel, Cobalt), Tin & associated minerals, Manganese, and Limestone.

It was also approved to provide financial aid to the Geological Survey of India (GSI), the Indian Bureau of Mines (IBM), and the State DGMs/DMGs to improve their institutional capacity for mineral exploration.

The nation will receive auctionable mineral blocks from these projects and financial support for the exploration agencies, assisting in the realisation of Aatmanirbhar Bharat in the mining industry.

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