NMET approves exploration projects for gold and REE in Tamil Nadu

24 Jun 2024 CW Team

The state, renowned for its mineral wealth, has witnessed a rise in mineral revenue from Rs 9.83 billion in 2020-21 to Rs 18.36 billion in 2023-24, according to the Tamil Nadu Natural Resources Department Policy Note for 2024-2025. To further boost revenue, on-going exploration efforts are being conducted through agencies like the Geological Survey of India, Mineral Exploration and Consultancy, and Kudremukh Iron Ore Corporation Limited. These agencies have submitted comprehensive geological reports covering minerals such as limestone, dunite, iron ore, graphite, gold, platinum group elements, and molybdenum. District-wise survey reports are accessible on respective district websites.

The Policy Note highlighted significant challenges posed by illicit mining and mineral transportation, which not only deprive the state of rightful revenue but also degrade the environment. In response, the government has implemented stringent measures including the use of drone technology, the Mining Surveillance System, and the Online Mineral Management System.

Moreover, the department has identified ten limestone blocks in Ariyalur and Cuddalore districts for auctioning mining leases. The Notice Inviting Tender (NIT) was published on March 4, 2024, adhering to the Mineral Auction Rules, 2015, and the tender process is currently underway. Anticipated revenue from these auctions is expected to be substantial upon successful completion. Additionally, new mineral blocks containing gold and limestone have been identified, with geological reports already submitted by exploration agencies. Auctions for these blocks are slated to commence shortly, as outlined in the Policy Note.

(Source: Hindu BusinessLine)

Tamil Nadu has received approval for new mineral exploration projects targeting gold and rare-earth elements (REE) in Krishnagiri and Tiruppur districts, as well as a graphite exploration project in the Arasanur East block by Kudremukh Iron Ore Company Limited. The National Mineral Exploration Trust has endorsed these initiatives submitted by Mineral Exploration and Consultancy Ltd, formerly known as Mineral Exploration and Corporation Limited. The state, renowned for its mineral wealth, has witnessed a rise in mineral revenue from Rs 9.83 billion in 2020-21 to Rs 18.36 billion in 2023-24, according to the Tamil Nadu Natural Resources Department Policy Note for 2024-2025. To further boost revenue, on-going exploration efforts are being conducted through agencies like the Geological Survey of India, Mineral Exploration and Consultancy, and Kudremukh Iron Ore Corporation Limited. These agencies have submitted comprehensive geological reports covering minerals such as limestone, dunite, iron ore, graphite, gold, platinum group elements, and molybdenum. District-wise survey reports are accessible on respective district websites. The Policy Note highlighted significant challenges posed by illicit mining and mineral transportation, which not only deprive the state of rightful revenue but also degrade the environment. In response, the government has implemented stringent measures including the use of drone technology, the Mining Surveillance System, and the Online Mineral Management System. Moreover, the department has identified ten limestone blocks in Ariyalur and Cuddalore districts for auctioning mining leases. The Notice Inviting Tender (NIT) was published on March 4, 2024, adhering to the Mineral Auction Rules, 2015, and the tender process is currently underway. Anticipated revenue from these auctions is expected to be substantial upon successful completion. Additionally, new mineral blocks containing gold and limestone have been identified, with geological reports already submitted by exploration agencies. Auctions for these blocks are slated to commence shortly, as outlined in the Policy Note. (Source: Hindu BusinessLine)

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