The National Mineral Exploration Trust has approved 51 mineral exploration projects this year, totaling more than 419 crore rupees. The Geological Survey of India has taken on a total of 358 Mineral Exploration Projects this year, according to an announcement from the Mines Ministry. The government has started the first auction procedure for twenty-four strategic and vital minerals in an effort to fortify the nation’s supply chain for these minerals.
The District Mineral Foundation (DMF) regulations and guidelines have been streamlined by the Ministry to facilitate the successful execution of the Pradhan Mantri Khanij Kshetra Kalyan Yojana. Incorporating the private sector and cutting-edge technologies into mineral exploration and processing has been attempted. The Mines and Minerals (Development and Regulations) Amendment Act, 2023 and the Offshore Area Minerals (Development and Regulations) Amendment Act, 2023 are two significant policy initiatives and modifications that the Centre has also introduced.