NCLAT: Consideration of Debt Restructuring by Lenders Doesn’t Bar Member from Initiating Proceedings  ||  Delhi High Court: In Matters of Medical Evaluation, Courts Should Exercise Restraint  ||  Delhi HC: Any Person in India Has Right to Legally Import Goods from Abroad and Sell the Same  ||  Delhi HC: Waiver to Section 12(5) of Arbitration Act to be Given Once Tribunal is Constituted  ||  Supreme Court Has Asked States to Regularise Existing Court Managers  ||  SC: Union & States to Create Special POSCO Courts on Top Priority  ||  SC Upholds Authority of CERC to Award Compensation for Delays  ||  SC: Arbitral Tribunal Has Discretion to Include in Sum Awarded, Interest at Rate as it Deems Reasonab  ||  SC: Cannot Use Article 142 to Frame Guidelines on Judicial Recusal  ||  SC: Satisfaction Recorder in One EP Won’t Affect Subsequent EPs for Future Breaches    

Cabinet approves National Mineral Exploration Policy - (29 Jun 2016)

MANU/PIBU/0510/2016

Mines and Minerals

The Union Cabinet approved the National Mineral Exploration Policy to encourage participation of the private sector.

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.

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.

The Geological Survey of India already provides a wealth of geological maps for public consumption, however, many of the maps published are decades old.

Tags : NATIONAL MINERAL EXPLORATION POLICY   MINING   DATABASE  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved