NLC CMD S K Acharya has said that the National Mineral Exploration Policy will lower the cost of mineral exploration. In a Statement, Acharya, who is also Co-Chairman of the National Committee on Formulating Star Ratings for Indian Mines constituted by Confederation of Indian Industry (CII), observed this while commenting on the National Mineral Exploration Policy (NMEP) approved by Union Cabinet.
He observed that the Union Cabinet’s approving the National Mineral Exploration Policy (NMEP) for Non fuel & Non Coal Minerals is a bold and welcome step. This policy is poised to bring in world class practices adopted in exploration of minerals.
It throws open the Indian Mineral Sector to wider and competitive participation of exploration companies both in house & abroad — and will pave the way for bringing down the cost of exploration in the country.
The policy would enable creating a comprehensive Geo-Scientific & Exploration database comparable to world class standards, like in Australia.Commenting on the successful implementation of NMEP, Acharya observed that some issues need to be addressed.
The Union Govt may create an institutional mechanism to coordinate the activities of players like itself, the exploration industry, research & academic bodies and financiers to ensure success in exploration.