Recently, the Parliamentary Standing Committee on Coal, Mines and Steel, in its 23rd report on the National Mineral Exploration and Development Trust (NMEDT), stated that offshore mineral exploration offers a major opportunity for India to utilise its largely untapped seabed mineral resources.
About the National Mineral Exploration and Development Trust
The National Mineral Exploration Trust (NMET), also referred to as the National Mineral Exploration and Development Trust in policy discussions, was established by the Central Government to support the regional and detailed exploration of minerals across the country.
The Trust was created under the Mines and Minerals (Development and Regulation) Amendment Act, 2015.
Its primary objective is to promote systematic mineral exploration using funds collected under the provisions of the law and to strengthen the scientific development of India’s mineral sector.
Structure of the Trust
The Trust follows a two-tier structure for administration and decision-making.
Governing Body
The apex body of the Trust is the Governing Body, which is chaired by the Union Minister of Mines. It exercises overall control and provides policy direction for the functioning of the Trust.
Executive Committee
The day-to-day administration and management of the Trust are handled by the Executive Committee, which is chaired by the Secretary of the Ministry of Mines.
The Executive Committee is responsible for implementing projects, managing funds, and supervising exploration activities.
Funding Mechanism
To carry out its activities, an NMET Fund has been established.
The Fund receives contributions from holders of:
mining leases, and
prospecting licence-cum-mining leases.
These entities are required to contribute an amount equal to 2% of the royalty paid under the provisions of the MMDR Act.
This funding mechanism ensures continuous financial support for mineral exploration and research activities in the country.
Functions of NMET
The Trust plays an important role in strengthening mineral exploration and scientific mining practices in India.
One of its major functions is to provide funding for special studies and projects aimed at identifying, exploring, extracting, beneficiating, and refining deep-seated and concealed mineral deposits.
The Trust also undertakes studies related to:
mineral development,
sustainable mining practices,
adoption of advanced scientific and technological methods, and
mineral extraction metallurgy.
Another important responsibility of NMET is conducting regional and detailed exploration of strategic and critical minerals, which are essential for industries such as electronics, renewable energy, defence, and advanced manufacturing.
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We provide offline, online and recorded lectures in the same amount.
Every aspirant is unique and the mentoring is customised according to the strengths and weaknesses of the aspirant.
In every Lecture. Director Sir will provide conceptual understanding with around 800 Mindmaps.
We provide you the best and Comprehensive content which comes directly or indirectly in UPSC Exam.
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