Ministry of Mines issues general instructions for project proposals to NMET,indiabusinessport,com

The Ministry of Mines, on Monday, issued general instructions to Notified Exploration Agencies for submission of project proposals to National Mineral Exploration Trust (NMET).

“A considerable delay in a number of cases in providing the certificate of the actual status of proposed block area/land (whether free hold/ lease hold/ reserved by the State) from the State authority concerned has caused unnecessary delay in starting mineral exploration in the country. Therefore, general instructions are further clarified for submission of the project proposals for NMET fund,” the ministry said.

According to the instructions, the Mineral Exploration Corporation Ltd. (MECL) and other notified CPSUs will send the request letter to state government for certificate regarding the actual status of proposed block area/ land (whether free hold/ lease hold/ reserved by the state) from the state authority. The state government will provide the certificate regarding the actual status of proposed block area/ land (about free hold/lease hold) within 60 days.

In case of non-receipt of certificate from State Government after 60 days, the project proposal may be submitted to NMET Secretariat for technical and financial evaluation in technical cum cost committee (TCC). The Director, Directorate/Department of Mines and Geology, State Government will be invited to attend the TCC meeting to clarify about the status of proposed block area (about free hold/lease hold) during technical evaluation of the project proposal.

Based on techno-economic suitability, approval will be accorded for carrying out exploration work for the project proposal. Before starting the exploration work, MECL and other notified CPSUs shall confirm that the block area is not under any lease hold and that any other State/Central/Private exploration agencies have not taken up exploration work in the proposed block area.

“This initiative is taken by the Ministry of Mines in order to expedite mineral exploration in the country and will help in achieving self-reliance in minerals and promoting economic growth and employment,” the ministry added.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

%d bloggers like this: