The new National Policy for the exploration of mineral resources (National Mineral Exploration Policy, NMEP) India, which was recently adopted by the Government of the country, has been introduced with effect from July 4, 2016, according to the Information Office press.
One key aspect of the policy is to increase the rate of exploration in the country due to the expansion of private sector participation. The text of the document was presented to the National Assembly for the mining industry and mineral resources in Raipur, Chhattisgarh.
The text of the statement of the law states that the sale of certain units for exploration work at auction for the private sector will soon be carried out by the Ministry of Mines. Exploration companies will be able to claim part of the proceeds from mining in the event that will bring the results of exploration. However, if the site after the work can not be sold at auction, exploration costs for companies will be reimbursed at standard cost, say in the government.
This policy also involves a comprehensive exploration of mineral resources of India for the disclosure of all the mineral resource potential of the country. On this basis, the resources can be used most efficiently, which will help to maximize the contribution of the mining sector to the economy.
To this end, the National Program airborne geophysical survey will be conducted with the participation of the government, after which will be established base of geophysical data, and also placed in the public domain. The database will contain information and data exploration Baseline collected various central and state government agencies, as well as the holder of mineral concessions.
In addition, the government will promote the development of cooperation with research organizations, universities and industry for research and technological development required for exploration on the basis of partnership between the state and the private sector.
It is expected that the cost of implementation of the new policy of the government about $ 319 million over five years. This is higher than the budget of the Geological Service of India under the Ministry of Mines.
The new policy was designed to promote the initial steps taken by the authorities for the development of mountainous Indian mining sector.
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Danish jewelry company opened a total of 392 boutiques in 2015, 136 of which - in the fourth quarter. Furthermore, it was discovered 34 fully owned and operated by the Company's stores, of which 15 were from China.
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