State-owned MECL today entered into an agreement with the Ministry of Mines for carrying out exploratory drilling over a 275 km stretch during 2010-11 to meet the rising demand for minerals from consuming industries.
Also, as per the MoU, the Mineral Exploration Corporation Ltd (MECL) will undertake mine development in 75 km area.
"Continuing with the improvement in physio-financial performance of the company, MECL has committed to carry out 2,75,000 metres of exploratory drilling and 7,500 metres of exploratory/developmental mining along with associated activities in the MoU.
"MECL has also proposed an ambitious programme for modernisation and expansion in the forth coming year," an official statement said here.
Further, the agreement talked about optimisation of power consumption to maintain sustainability.
"In addition to above, it has also proposed to adopt the parameters related to corporate social responsibility and emphasised on customer satisfaction by maintaining quality, quantity and time schedule," the statement added.
The MoU was signed between Mines Secretary Santha Sheela Nairand and MECL CMD A K Lomas.