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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> <br /><br /> Cabinet approves National Mineral Exploration Policy<br /><br /> MANU/PIBU/0510/2016 - (29 Jun 2016)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The Union Cabinet approved the National Mineral Exploration Policy to encourage participation of the private sector. <BR><BR> Under the policy, the Ministry of Mines will auction exploration blocks to private sector entities. It will be done on a revenue sharing basis, in hopes that exploration will yield auction-able resources. Alternatively, failure to find resources will mean part reimbursement of costs by the government.<BR><BR> A National Geoscientific Data Repository will be set up collate all baseline and mineral exploration information generated by various government agencies and mineral concession holders in a geospatial database. The data will be placed in the public domain and will be available free of charge.<BR><BR> The Geological Survey of India <a href="http://www.portal.gsi.gov.in/portal/page?_pageid=108,1582115&_dad=portal&_schema=PORTAL">already provides</a> a wealth of geological maps for public consumption, however, many of the maps published are decades old.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : national mineral exploration policy, mining, database</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>