Neyveli Lignite Corporation CMD S. K. Acharya has said the new National Mineral Exploration Policy (NMEP) for non-fuel and non-coal minerals would help in bringing down mineral exploration cost.
In a statement released here , Mr. Acharya, who is also the co-chairman of the national committee on formulating star rating for the Indian mines, constituted by the Confederation of Indian Industry (CII), said the NMEP “throws open the Indian mineral sector to wider and competitive participation of exploration companies both in house and overseas.”
The policy would also enable creation of a comprehensive geo-scientific exploration database comparable to world class standards, he said.
For the successful implementation of the policy, he suggested that the Union government create an institutional mechanism to coordinate the activities of the players, including the exploration industry, research and academic bodies and financiers.
The government may also initiate and implement the changes in enabling a framework – legal ,regulatory, financial and fiscal – for obtaining best possible results in exploration, Mr. Acharya said.
