PPP model in mineral exploration can boost investments: Top Fimi official

As the Union mines ministry prepares to amend the National Mineral Policy (NMP)-2008, industry stakeholders feel tapping the public-private partnership (PPP) model can help attract large-scale investments in mineral exploration.

India is one of the least explored countries in the world with an exploration spend of $15-20 million annually. This pales into insignificance with other resource-rich nations like Canada and Australia which invest above $900 million every year on exploration.

"Auctioning large mineral blocks can attract large-scale investments with latest technologies and techniques. As mineral exploration is a high-risk business, PPP model can be considered”, said an industry source.

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