Govt proposes formation of NCMT for deep-seated minerals

Mines Ministry says National Centre for Mineral Targeting will be self-sustaining after initial support of five years

This is to focus on deep-seated and concealed mineral targets, considered a cost-intensive exercise, with a high degree of risk.

In its base paper for a National Mineral Exploration Policy (non-fuel and non-coal), the ministry says India has exploited most of its outcropping and near-surface mineral deposits. It is important to move deeper into the earth.

"If the country is to look for sizable new resources for sustained growth of its mineral-based industry, the state has to support a series of technology-intensive geoscientific studies that require availability of experts on board a national-level centre and sizable funding. This calls for creation of a National Centre for Mineral Targeting," it said.

The proposed NCMT will be a think-tank for the exploration sector and is proposed to be headed by a geologist of eminence, with an important representation of exploration geophysicists, it said. To be located at Nagpur or Rajasthan, it will have a microscopy and mineral beneficiation plant and 3D-software, with teams of experts.

"The output of NCMT will be as per the requirement of the mineral sector and will have direct benefit to the public and private exploration and mining agencies," said the ministry.

Initial funding has to be by the central government, through the National Mineral Exploration Trust, it said. The annual funding needed is a minimum of Rs 300 crore, about five per cent of the present total annual spending by relevant private and state bodies in the country.

The Centre will be self-sustaining after an initial support of five years from the government, it said.