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Centre turns to PSUs for mining exploration push; to auction proven reserves by December 2017


The mines ministry has already allotted 30 blocks each to Mineral Exploration Corp Ltd and Geological Survey of India.The mines ministry has already allotted 30 blocks each to Mineral Exploration Corp Ltd and Geological Survey of India.NEW DELHI: The government has decided to task central public sector undertakings includingNMDC,NTPCandSteel Authority of Indiawith pushing mineral exploration in India.

The central PSUs will be allotted 20 of the 100 large mineral identified acreages for carrying out exploration activities to establish reserves, a mines ministry official said. Another 20 blocks will be auctioned to private firms.

“We are relying on PSUs to expedite the mineral exploration activity, so that some of these blocks, once proved viable, can be auctioned by December next year,” the official said, requesting not to be identified.

The mines ministry has already allotted 30 blocks each toMineral Exploration Corp Ltdand Geological Survey of India. It had identified 100 such blocks for exploration under the new mineral exploration policy.

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