National Mineral Exploration and Development Trust

Recently, in its 23rd report on the National Mineral Exploration and Development Trust (NMEDT), the Standing Committee on Coal, Mines and Steel said offshore exploration presents a “significant opportunity” to harness largely untapped seabed minerals.

  • NMEDT was set up for the purposes of regional and detailed exploration of minerals using the funds accrued to it and in such a manner as prescribed by the Central Government.
  • It was established under the Mines and Minerals (Development & Regulation) Amendment Act, 2015 (MMRDA).
  • The NMET Fund receives money from holders of mining leases or prospecting licence-cum-mining leases, an amount equivalent to 2% ....
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