Govt incentivises mining exploration, ropes in SBI

KOLKATA: To make exploration more attractive for private players, the mining ministry has decided to incentivise exploration and has engaged SBI Caps for empanelment

KOLKATA: To make exploration more attractive for private players, the mining ministry has decided to incentivise exploration and has engaged SBI Caps for empanelment of private players for the activity. “We are going to offer incentives for finding viable reserve and the same will be either 0.05% of resource value or 10 times of the annual retention fee, whichever is higher,” mines secretary Balvinder Kumar said. Advertisement for firms seeking empanelment would be released soon.

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