NMET Achieves Milestone, Completes 162 Projects, Unveils 108 New Exploration Initiatives
The National Mineral Exploration Trust (NMET), established by the Government of India to boost regional and detailed mineral exploration activities, has marked significant progress. Since its inception in August 2015, NMET has successfully funded and completed 162 mineral exploration projects, while an additional 108 projects are currently underway.
This information was presented by Union Minister of Coal, Mines, and Parliamentary Affairs, Shri Pralhad Joshi, in a written reply in Lok Sabha on Wednesday, highlighting the government's commitment to systematic mineral exploration for sustainable development.
NMET, in adherence to subsection (1) of Section 9C of the Mines and Minerals (Development and Regulation) Act, 1957, has been instrumental in fostering mineral exploration initiatives across various states in India. Out of the completed projects, 11 have been successfully auctioned by respective state governments, with six projects currently in the pipeline. The successfully auctioned NMET-funded mineral blocks, including commodities, quantities, and revenue collections, are detailed in the official statement.
The auctioning of NMET-funded mineral blocks has yielded substantial success across various states, contributing significantly to the nation's mineral wealth. In Madhya Pradesh, a single block of limestone was auctioned, totaling 209.77 MT and generating an impressive revenue collection of Rs 7,310 crore.
Similarly, Uttar Pradesh witnessed the auction of a phosphorite block, comprising 16.52 MT, with a revenue collection of Rs 3,193 crore. Rajasthan, with the auction of two limestone blocks totaling 321.55 MT, achieved an outstanding revenue of Rs 29,704 crore.
Chhattisgarh added to the success with a limestone block of 77.84 MT, accumulating Rs 4,180 crore. Karnataka and Maharashtra contributed with limestone and manganese blocks, respectively, while Odisha, with three iron blocks, achieved a remarkable revenue collection of Rs 1,22,509 crore.
In total, 11 blocks were successfully auctioned, amassing a substantial quantity of 1,672.783 MT and an impressive revenue collection of Rs 1,69,655 crore. This signifies a robust stride towards harnessing the nation's mineral resources for economic growth and development.
Moreover, ongoing projects are actively advancing across various states and union territories, as detailed in the provided Annexure-II. NMET has received proposals from Exploration Agencies, all of which have been sanctioned by the Executive Committee. At present, no proposal is pending.
