Draft National Mineral Policy

The proposed amendments would enable the awarding of contracts even if only one technical bidder participates in the second attempt of the auction process

The central government has also amended the Mineral Conservation and Development Rules, 2017, said Union Mines Minister Pralhad Joshi

Even after recast of its decade old National Mineral Policy (NMP), the Mines ministry can hardly expect to garner major private investments in mineral exploration space, say industry stakeholders.The ministry has released the draft of the NMP-2018, seeking to replace the last policy announced in 2008. According to the policy, mineral exploration would be incentivised to attract private investments as well as state of the art technology through an adequate financial package or through the Right of First Refusal at the time of auction. The policy also promises any other appropriate incentive as per international practice. While the government agencies would carry on exploration and survey work as usual, the private sector would be incentivised to take up exploration activities. In areas where private sector investments are not coming in due to high uncertainties, the government agencies would spend public funds, the policy says."The policy vaguely talks of some financial package. There .

The last date for receipt of stakeholders' comments is February 9, the govt said in a statement