The National Mineral Exploration Trust (NMET), has approved 309 projects with an estimated cost of ₹2,100.14 crore for regional and detailed exploration across the country.

Out of the 309 approved projects, 151 projects have been completed and the remaining 158 are in various stages of progress.

Eleven blocks have been auctioned by respective State Governments generating revenue of ₹1.69-lakh crore, the according to the Ministry of Mines.

Exploring minerals

The NMET is also funding projects for generation of baseline geoscience data which includes multi sensor aero-geophysical surveys under National Aero-Geophysical Mapping Program and National Geophysical Mapping Programme. These are being carried out by the Geological Survey of India (GSI) which will helpin identification of potential areas including concealed and deep-seated target areas for further mineral exploration.

Further, the NMET is also funding the development of National Geoscience Data Repository (NGDR) Portal of GSI. The NGDR portal will be launched shortly, it added.

Chairing the Consultative Committee for the Ministry of Coal and Mines meeting earlier this week, Union Minister Pralhad Joshi said the Centre is extending substantial financial and technological assistance to State governments “to further promote mineral exploration” and make India self-reliant in the segment.

According to Joshi, efforts are also underway to speed up auction process of critical minerals in India.

Financial assistance

“The NMET has formulated and circulated schemes to provide financial assistance for procurement of machinery, equipment, instruments, upgrade existing software and other latest technology and instruments in Central government organisations and State DGMs (Directorate of Geology and Mining) aimed at strengthening technical infrastructure,” he said.

It was also decided that 25 per cent of the project cost will be declared as incentive for deep-seated and critical mineral exploration.