In a significant move to expedite the exploration of critical and strategic minerals, the ministry of mines has decided to authorise projects of notified private exploration agencies (NPEAs) directly through the National Mineral Exploration Trust (NMET). The decision aims to enhance exploration activities related to crucial minerals.
The innovative approach is designed to streamline processes, ensuring the swift approval of projects and timely disbursement of funds to NPEAs. Currently, sixteen NPEAs have received notification from the central government. The NMET has already approved seventeen projects from five NPEAs, amounting to a total cost of ₹15.88 crore. Significantly, eleven of the projects focus specifically on the exploration of critical minerals.
The initiative is part of the government’s broader vision to reduce dependency on imports and enhance domestic capabilities, particularly in vital sectors such as mining. As reported by ETEnergyworld.com, by facilitating the exploration and development of deep-seated and strategically important minerals, the government aims to strengthen India’s industrial and technological capacities, aligning with the overarching goal of fostering self-sufficiency.
