Mineral and Mining - #SectorUpdates
The Ministry for Mines has accredited 13 private exploration agencies to undertake prospecting operations of minerals. The amendment of Mines & Minerals Development & Regulation (MMDR) Act in 2021 has allowed private agencies to participate in exploration for mineral sector after getting duly accredited by National Accreditation Board for Education and Training of the Quality Council of India (QCI-NABET). The Centre is planning to increase the contribution of the mines and minerals sector towards the country’s GDP to 2.5 per cent by 2030, from the current 0.9 per cent, by enhancing the ease of doing business. The move will allow unleashing the economic potential of the mines sector by bringing more agencies in exploration of minerals. It is also likely to increase the pace of exploration, create new employment opportunities in the sector and bring more explored blocks for auction.