Under the leadership of Union Minister Shri G. Kishan Reddy, the Ministry of Mines is advancing India’s mineral exploration sector through several strategic initiatives. These efforts were highlighted during the 6th Governing Body meeting of the National Mineral Exploration Trust (NMET), held at the Dr. Ambedkar International Centre in New Delhi. The meeting, which included the release of the NMET Annual Report for 2023-24, showcased the Trust’s achievements and outlined future goals to enhance the country’s resource potential.
One of the key developments discussed was the enhancement of the National Geoscientific Data Repository (NGDR) Portal. This portal will now facilitate seamless collaboration for geoscientific data sharing among the Geological Survey of India, Directorate of Hydrocarbons, and the Department of Atomic Energy. This initiative is expected to optimize the use of geoscientific data for national development.
Additionally, the Governing Body approved a revised scheme for Partial Reimbursement of Exploration Expenses, increasing the ceiling to ₹8.00 crore for Composite License (CL) holders. A new reimbursement scheme offering up to ₹20.00 crore for Exploration License (EL) holders was also introduced to encourage greater participation from Junior Mining Companies.
The NMET is also actively driving exploration in Left Wing Extremism-affected districts, offering incentives of 1.25 times the standard Schedule of Charges for fieldwork. Furthermore, NMET is extending support to startups and MSMEs under the S&T PRISM scheme, focusing on innovative technologies such as Artificial Intelligence, automation, and drones.
In a bid to further bolster the sector, Shri Kishan Reddy announced a 25% exploration incentive for agencies engaged in discovering critical and strategic minerals. This initiative is aimed at enhancing exploration efforts, contributing to India’s self-reliance in mineral resources.
Shri G. Kishan Reddy also urged state governments to consider establishing State Mineral Exploration Trusts to encourage exploration of minor minerals, similar to NMET. He emphasized the importance of workshops and roadshows to raise awareness of NMET’s schemes and ensure their full utilization.
The Minister stressed the need for cooperative federalism, urging all states to work together to expedite ongoing exploration projects, particularly in mineral-rich regions like Jammu & Kashmir. He called for a united effort to advance India’s journey toward self-reliance in the mining sector.
Minister of State for Coal and Mines Shri Satish Chandra Dubey also spoke on the occasion, highlighting NMET’s role in advancing mineral exploration in India. He encouraged stakeholders to work collaboratively to achieve ‘Aatmanirbharta’ (self-reliance) in the mining sector and emphasized the need for state-level seminars and workshops to fully utilize NMET’s capabilities.
These initiatives collectively represent a robust strategy to strengthen India’s mineral exploration sector, ensuring sustainable development and efficient resource utilization. The Ministry of Mines remains committed to fostering innovation, supporting emerging technologies, and enabling the exploration of critical minerals essential for the nation’s growth.
