Now, private players will be roped in for mineral exploration, which was earlier done by the Government-run agencies and institutions exclusively.
In a letter, the Union Mines Secretary Mines Balvinder Kumar has informed the Odisha Government about the Centre’s plan to engage private agencies for comprehensive mineral exploration.
Kumar said the Mines Ministry is now identifying large tracts of lands in mining zones to be given to private companies for detailed exploration of minerals.
The Geological Survey of India (GSI) has been entrusted with the work of identifying such potential blocks for regional exploration. At least 50 potential blocks of 100 sq km and above to be given to the private players for bringing in investment in the mineral exploration sector in the country, said sources.
Accordingly, the Odisha Government has been asked to identify such potential mineral blocks for mineral explorations.
Kumar mentioned that all applications received prior to the date of commencement of the new MMDR Act on January 12, 2015 would be invalid.
In this connection it is felt that evaluation of all such pending applications with the State Government for mineral concessions may assist in quick assessment of potential blocks for regional as well as detailed exploration.
Keeping this in view, Committee of all the States concerned comprising officers of the Regional Controller of Mines, State heads of the Indian Bureau of Mines (IBM) and Geological Survey of India, Mineral Exploration Corporation of India limited (MECl), representatives of the Directorate of Geology and Directorate of Mines of the respective State Governments are being constituted.
The committee will evaluate the applications and categorise them in terms of suitability for regional exploration or Prospective license (Pl) or Mining lease (Ml). The recommendations of the such ommittees may be submitted to the Ministry within a period of one month. Controller of IBM will coordinate the entire exercise, said Kumar.
Union Government strongly feels that private sector participation is required in exploration as India has been able to carry out only 10 per cent regional exploration while countries like Australia, which have similar geological endowment, have completed 100 per cent of regional exploration.