Business Standard

A costly affair: Draft National Mineral Policy dashes hopes of investments

India is one of the least explored countries in the world with an exploration spend of $15-20 million annually

iron ore mining, mining, iron ore

The SC also ordered the monitoring committee to act immediately in regard to the enhancement proposal filed by 13 mining leases

Jayajit Dash Bhubaneswar
Even after recast of its decade old National Mineral Policy (NMP), the Mines ministry can hardly expect to garner major private investments in mineral exploration space, say industry stakeholders.
The ministry has released the draft of the NMP-2018, seeking to replace the last policy announced in 2008.
According to the policy, mineral exploration would be incentivised to attract private investments as well as state of the art technology through an adequate financial package or through the Right of First Refusal at the time of auction. The policy also promises any other appropriate incentive as per international practice. While the government agencies would

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First Published: Feb 06 2018 | 12:13 AM IST

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