EXPLORATION & DEVELOPMENT Indian Minerals Yearbook 2015 (Part- I : GENERAL REVIEWS) 54th Edition EXPLORATION & DEVELOPMENT (ADVANCE RELEASE) GOVERNMENT OF INDIA MINISTRY OF MINES INDIAN BUREAU OF MINES Indira Bhavan, Civil Lines, NAGPUR – 440 001 PHONE/FAX NO. (0712) 2565471 PBX : (0712) 2562649, 2560544, 2560648 E-MAIL :
[email protected] Website: www.ibm.gov.in March, 2017 4-1 EXPLORATION & DEVELOPMENT 4 Exploration & Development GOVERNMENT’S POLICY Data filing will be rigorously applied and he National Mineral Policy, 2008 for non- concession holders will be monitored. Tfuel and non-coal minerals, introduced by the Lock-in arrangement will be assured and Government in replacement of the National Mineral the data will be released to prospectors Policy 1993 lay enormous thrust on the various after integration. aspects of mineral industry, such as regulation of * Prospecting being a high-risk venture, minerals, role of State in mineral development, access to risk funds from capital markets survey and exploration, database of mineral will be facilitated. resources and tenements, strategy of mineral development, etc. Among other things, strong This policy initiative is expected to encourage emphasis is laid on the following: greater involvement of private sector in survey and exploration of minerals. * To judiciously exploit and utilise the country's mineral potentialities, The High-Level Committee constituted by the systematic regional and detailed Government of India which brought out the exploration will be carried out using state- National Mineral Policy, 2008 has recommended of-the-art techniques in a time bound amendments to the MMDR Act, 1957 with the manner. Zero-waste mining will be the purpose of providing necessary initiatives to national goal and mining technology will attract investment and participation of private and be upgraded to ensure exploration and public sectors in areas of exploration and utilisation of entire run-of-the-mine.