The National Mineral Exploration Policy (NMEP) has been approved by the Government. The policy, inter-alia, proposes that:
The Government will create baseline geo-scientific data as a public good and will make available pre-competitive baseline geo-scientific data of the highest standards free of charge in public domain.
The Government will carry out aero-geophysical survey of the country in a mission mode initially in the potential areas of around 8 lakh sq. kms and subsequently in the rest of the areas.
A National Geoscientific Data Repository (NGDR) will be set up to collate all baseline and mineral exploration information generated by various central and state government agencies.
The Government will establish a National Centre for Mineral Targeting (NCMT).
The Government will carry out auctioning of identified exploration blocks for exploration by private sector on a suitable revenue sharing basis.
Further Action: The limited success of earlier policy measures, as well as the requirements of the new emerging imperatives, has led to the amendments made to the MMDR Act by the Amendment Act of 2015.
Challenges
Despite successive amendments in Mines and Mineral (Development and Regulation) Act, the government is unable to woo the private investment for mineral exploration in the country.
The major drawbacks of the existing and the previous policies are that it unable to wipe out the procedural complexities for obtaining clearance from various authorities
Another challenge is to meet the exploration guidelines of United Nations Framework Classification (UNFC).
Ways to Improve
Some improvements can be introduced like making available baseline geo-scientific data, periodical review of Obvious Geological Potential and to target the Deep Seated/Concealed Mineral Deposits etc.
