States deposit Rs 168 cr in NMET to boost mineral exploration – Feedback

States have so far deposited a total of Rs 168.38 crore in NMET, which will utilise the funds primarily for the purpose of regional and detailed mineral exploration through special studies and projects.

National Mineral Exploration Trust (NMET) has started receiving payments of a sum equivalent to 2 per cent of the royalty paid in terms of minerals listed in the Second Schedule as per provisions of the MMDR Amendment Act 2015, Minister of State for Mines Vishnu Deo Sai said in a written reply to Rajya Sabha. “NMET contribution is applicable with effect from January 12, 2015. As on April 30, 2016, a total Rs 168.38 crore has been received by NMET from States,” he added. The Trust will utilise the funds primarily for the purpose of regional and detailed mineral exploration through special studies and projects to identify, explore, extract, beneficiate and refine deep seated or concealed mineral deposits.

http://www.business-standard.com/article/pti-stories/states-deposit-rs-168-cr-in-nmet-to-boost-mineral-exploration-116051100672_1.html

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