National Mineral Exploration Policy

Q.  Which of the following is/are true regarding National Mineral Exploration Policy?

1) Private entities engaged in carrying out regional and detailed exploration would get a certain share in revenue, when the region is mined.
2) Of India’s entire Obvious Geological Potential (OGP) area, identified by GSI, only 10 per cent has been explored.
- Published on 30 Jun 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Both 1 and 2
 
  • One of the important features of NMEP is attractive provisions for private investment in the exploration sector.
  • NMEP has proposed that private entities engaged in carrying out regional and detailed exploration would get a certain share in revenue (by way of royalty or premium accruing to the State government) in mining operation from the successful bidder after the e-auction of the mineral block.
  • Selection of private explorer is proposed to be done through a transparent process of competitive bidding through e-auction. For this, reasonable areas or blocks for regional exploration will be earmarked or identified by the government for auctioning.
  • Of India’s entire Obvious Geological Potential (OGP) area, identified by GSI, only 10 per cent has been explored and mining is undertaken in 1.5-2 per cent of this area.

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