Published on: August 6, 2021


NATIONAL MINERAL EXPLORATION TRUST What is in news : A call for Restructuring National Mineral Exploration Trust (NMET) as Autonomous Body has been done About NMET :

  • Set up under The Mines and Mineral (Development and Regulation) Act, 1957
  • Aim – Realize the mineral potential of the country in terms of mining activity and contribute commensurately to the growth of national economy.

NMET FUND: holders of Mining Lease and Prospecting Licence-cum-Mining Lease make payments equivalent to 2% of royalty, for minerals under second schedule of the Act, as NMET contribution simultaneously with payments of the royalty. It is being put to various use