- विज्ञापन -
Delhi: The Ministry of Mines in its year-end review-2024 on Saturday stated that the Centre has brought amendments to rationalise the royalty rates and successfully auctioned 24 critical mineral blocks in four tranches, an effort to drive economic growth.
The Ministry in its review also said that the Second Schedule to the MMDR Act, 1957 has been amended to rationalise the royalty rate of 12.
Critical and strategic minerals, viz., Beryllium, Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten and Vanadium.
The government has amended rules such as the Minerals (Other than Atomic and Hydrocarbons Energy Mineral) Concession Rules-2016 and the Mineral Conservation and Development Rules 2017. The Mineral (Auction) Rules 2015, The Atomic Minerals Concession Rule 2016, and The Minerals (Other than Atomic and Hydro Carbons Energy Mineral) Concession Rules 2016 to facilitate the ease in exploration of minerals.
The First Schedule of the OAMDR Act 2002 has been amended to rationalise the royalty rate of offshore minerals, viz., construction sand, dolomite, limestone and lime mud and others.
During the year 2024-25, 88 mineral blocks were successfully auctioned till December 10, 2024.
The National Mineral Exploration Trust (NMET) has approved 120 mineral exploration and procurement projects with an approved cost of Rs 609.54 crores.
The Ministry of Mines has been empowered to auction blocks for the grant of an exploration license through an order dated October 21, 2024, under section 20A of the MMDR Act 1957.
In the current year, 2024-25, NMET has funded 40 projects of critical minerals through various exploration agencies.
The Ministry of Mines has notified 28 private exploration agencies (NPEAs) in an effort to promote private involvement in exploration. With NMET financing, several agencies are embarking on exploratory programs.
