India to frame new mineral policy to attract private investment

The Indian government is mulling a new investor friendly mineral policy that will attract private players into the minerals exploration. This policy expcted to be unvelied by the end of August. 

The Mines Ministry, which is the driver of the proposed policy changes, is expected to suggest amendments to the Mines, Minerals Development and Regulation Act (MMDRA) 2015 to align it with the new framework, ensuring a level playing field between investors in mineral exploration and mineral development projects.

One of the key areas being addressed by the Mines Ministry was the grant of nonexclusive reconnaissance permits (NREPs), which, since introduction in 2015, has found few takers among private investors. Mining weekly reported.