Geological Survey of India [GSI] has covered almost the entire area of 31.4 lakh sq. km. of the country’s mappable area by systematic geological mapping on 1:50,000 scale. On the basis of this, the geological potential area of 5.71 lakh sq. km. has been identified for scheduled non-fuel and non-coal major minerals. GSI has launched National Geochemical Mapping (NGCM) and National Geophysical Mapping (NGPM) programs. Of the identified geological potential area, GSI has covered 3.17 lakh sq.km. and 1.9 lakh sq. km. by NGCM and NGPM respectively. Private and public mineral exploration agencies launch mineral exploration programmes based on the above baseline data.
- Establish priorities, in terms of activities, mineral commodities, areas, mining technology etc
- Identify and define the roles for the groups of key players in the government, the exploration industry, research and academic bodies, and financiers
- Recognize the coordinated activity in exploration and, therefore, creates the institutional mechanisms necessary for this purpose
- Outlines the changes in the enabling framework (legal, regulatory, financial and fiscal)
required for obtaining the best results in exploration
- Estimates the resources required, in terms of funds, human capital and technology, and
the means of harnessing these to the tasks ahead
The Government will make available pre-competitive baseline geoscience data of the
highest standards. This data will be continuously updated and benchmarked with those of
other jurisdictions. The Government will specify the kind of data that will be provided to
potential exploration agencies, and the timelines for their publication.
- The pre-competitive baseline geoscience data will be made available for open dissemination
free of charge.
- Government will create baseline geoscience data as a public good and fund the generation
and dissemination of such data.
- Government will launch a special initiative to probe deep-seated/concealed mineral
- Public expenditure on regional and detailed exploration will be prioritized and subject to
periodic review based on assessment of criticality and strategic interests.
- Private sector participation in exploration will be encouraged within the existing legal
framework. Government will work out suitable models for incentivizing private sector
explorers. Government will also take steps to simplify procedural requirements for
carrying out exploration by private sector.
- Government will collaborate with scientific and research bodies, universities and industry
for the scientific and technological development necessary for exploration.
- Administrative structure for coordination amongst various agencies engaged in exploration
will be reviewed and restructured.
Private Sector Participation in Exploration:
- Government’s objective is to facilitate, encourage and incentivize private sector participation
in all spheres of mineral exploration.
- Participation of private sector in exploration depends on the following:
- Availability and free accessibility of comprehensive, pre-competitive baseline geoscience data
- Incentives structures that provide an appropriate risk-return scenario
- Ease of doing business and earning attractive returns from the investment