Coal news and updates

In a bid to attract private investments including foreign direct investment into the business of mineral exploration, the Cabinet on Wednesday cleared a new National Mineral Exploration Policy (NEMP) with various incentives for explorers, including a risk cover.

Under the policy, the mining ministry will auction off 100 non-coal, non-fuel blocks to private explorers in the next nine months. The move is expected to encourage high-tech exploration firms, especially those that focus on exploration rather than mining, to work seriously on the country’s largely unknown but presumably rich deposits of base metals and diamonds.

Source:IndianExpress