Govt notifies 16 pvt exploration firms for critical, deep-seated minerals

In a bid to encourage private participation in exploration endeavours, the government will provide a financial incentive of up to 25 per cent of the approved cost of exploration

In a move to encourage private exploration of critical and deep-seated minerals in the country, the government for the first time has notified 16 private exploration agencies.

These private exploration agencies will now have the opportunity to obtain exploration licences for 29 minerals listed in the ‘Seventh Schedule’ of the Mines and Minerals (Development and Regulation) Act, 1957. Among these minerals are gold, silver, copper, cobalt, nickel, lead, potash, beryllium, and lithium, among others.

The private agencies notified by the Centre include Natural Resources Division-Tata Steel, Kartikay Exploration and Mining Services, Engeotech Consultant, Infrastructure Logistics, Novomine India, Ecomen Laboratories, Geo