(PTI)
Aiming to boost India’s mineral output by 200 per cent in the next seven years, Union Minister Pralhad Joshi on Thursday said about Rs 1,500 crore lying in exploration trust, could be used for accelerating this work.
He said the mining industry is undergoing reforms through transformative investor friendly interventions like the Mines and Minerals (Development and Regulation) Amendment Act 2015, that introduced transparent and competitive auction process for grant of mineral concessions besides setting up of National Mineral Exploration Trust (NMET) to accelerate mineral exploration activity.
“More than Rs 1,500 crore has been accumulated in the NMET fund during last three years. And as far as the information I have, today out of that …around Rs 200 crores have been spent…For exploration activities there is a fund to invest,” he said urging geoscientists to come forward.
