India Govt. May Allow PSU’S For Exploration of Minerals

05 Feb,New Delhi (odibizinfo)

Government of India is all set to notify other agencies besides Geological Survey of India, GSI, for exploration of minerals in the country soon.

Briefing newsmen in New Delhi after chairing a meeting of Central Geological Programming Board Thursday , the Minister for Mines, Narendra Singh Tomar said that government may allow National Mineral Development Corporation, other Public Sector Undertakings and State agencies for exploration works.

He said, the Ordinance brought on the Mines and Minerals (Development and Regulation) for auctioning of mines will ensure more transparency in the exploration. Under the Ordinance, the request for prior approval from Centre by the States regarding mining of minerals has been waived off, he said.

The Mines Ministry has identified 199 mines, which will be allocated through auction process. The mines are related to limestone, iron ore, bauxite and manganese ore and are located in States including Karnataka, Gujarat and Madhya Pradesh.