1. Home
  2. Infrastructure Energy
  3. COAL & MINING
  4. Coal and Mines Ministry reviews National Mineral Exploration Trust
Coal and Mines Ministry reviews National Mineral Exploration Trust
COAL & MINING

Coal and Mines Ministry reviews National Mineral Exploration Trust

25 Sep 2023 2 Min Read CW Team

The Consultative Committee for the Ministry of Coal and Mines had convened at the Parliament House Annexe on September 19th to assess the performance of the National Mineral Exploration Trust (NMET). During the session, it was reported in a Ministry of Coal press release that Union Minister of Coal, Mines, and Parliamentary Affairs, Pralhad Joshi, had stressed the government's commitment to enhancing mineral exploration with the aim of achieving self-reliance in mineral production.

He mentioned that Joshi had highlighted the significance of India's recently published list of 30 Critical Minerals, emphasizing the ongoing efforts to expedite the auction process for these critical minerals within the country. The primary focus of the meeting was the "Performance of NMET concerning its role and responsibility in promoting exploration in the country." The Ministry of Mines, led by VL Kantha Rao, Secretary, provided the committee members with an overview of NMET's performance. It was pointed out that 25 percent of the project cost had been allocated as an incentive for deep-seated and Critical Mineral exploration. For the purpose of promoting mineral exploration, NMET had granted approval to 309 projects with a total value of Rs 21 billion for regional and detailed exploration across the country.

These projects were being carried out by various Notified Exploration Agencies and Notified Private Exploration Agencies (NEAs & NPEAs). Out of the 309 projects that had received approval, 151 had already been successfully completed, while the rest were still in progress. Additionally, eleven blocks had been auctioned by the respective State Governments, resulting in an approximate revenue of Rs 1.69 trillion for the country throughout the lifespan of the mines.

The Consultative Committee for the Ministry of Coal and Mines had convened at the Parliament House Annexe on September 19th to assess the performance of the National Mineral Exploration Trust (NMET). During the session, it was reported in a Ministry of Coal press release that Union Minister of Coal, Mines, and Parliamentary Affairs, Pralhad Joshi, had stressed the government's commitment to enhancing mineral exploration with the aim of achieving self-reliance in mineral production. He mentioned that Joshi had highlighted the significance of India's recently published list of 30 Critical Minerals, emphasizing the ongoing efforts to expedite the auction process for these critical minerals within the country. The primary focus of the meeting was the Performance of NMET concerning its role and responsibility in promoting exploration in the country. The Ministry of Mines, led by VL Kantha Rao, Secretary, provided the committee members with an overview of NMET's performance. It was pointed out that 25 percent of the project cost had been allocated as an incentive for deep-seated and Critical Mineral exploration. For the purpose of promoting mineral exploration, NMET had granted approval to 309 projects with a total value of Rs 21 billion for regional and detailed exploration across the country. These projects were being carried out by various Notified Exploration Agencies and Notified Private Exploration Agencies (NEAs & NPEAs). Out of the 309 projects that had received approval, 151 had already been successfully completed, while the rest were still in progress. Additionally, eleven blocks had been auctioned by the respective State Governments, resulting in an approximate revenue of Rs 1.69 trillion for the country throughout the lifespan of the mines.

Next Story
Building Material
21 Dec 2024

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...

Read More
Next Story
Building Material
21 Dec 2024

Prism Johnson's cement division goes live with Ramco ERP Suite

Prism Johnson has successfully gone live with the Ramco ERP Suite for its Cement Division. This milestone marks a significant step in Prism Johnson's digital transformation journey, leveraging Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency. The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM). These solutions enable Prism Johnson to achieve seamless integration across its business and wo..

Read More
Next Story
Infrastructure Urban
21 Dec 2024

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh
Cement
21 Dec 2024

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

Prism Johnson's cement division goes live with Ramco ERP Suite
Cement
21 Dec 2024

Prism Johnson's cement division goes live with Ramco ERP Suite

Indian shadow bank Shriram Finance gets record $1.28 billion loan
ECONOMY & POLICY
21 Dec 2024

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Enso Group Partners With G-Energy To Launch Engine Oils In India
OIL & GAS
21 Dec 2024

Enso Group Partners With G-Energy To Launch Engine Oils In India

Air India Orders 34 Training Aircraft For Flight School
AVIATION & AIRPORTS
21 Dec 2024

Air India Orders 34 Training Aircraft For Flight School

Maruti Signs Deal with Bihar Govt to Automate Driving Tests
ROADS & HIGHWAYS
21 Dec 2024

Maruti Signs Deal with Bihar Govt to Automate Driving Tests

Pimpri Chinchwad Civic Body Imposes Time Restrictions
SMART CITIES
21 Dec 2024

Pimpri Chinchwad Civic Body Imposes Time Restrictions

BBMP to demolish 29 buildings in Bengaluru south zone
Real Estate
21 Dec 2024

BBMP to demolish 29 buildings in Bengaluru south zone

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000