Context
Union Minister of Coal, Mines and Parliamentary Affairs urged the officials of the Ministry of Mines to restructure the National Mineral Exploration Trust (NMET) as an autonomous body.
About
About the National Mineral Exploration Trust (NMET)
To implement its activities an NMET Fund has been established.
NMET Fund
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The holders of the Mining Lease and Prospecting Licence-cum-Mining Lease make payments which are equivalent to 2% of royalty, for minerals under the second schedule of the Act.
The Trust supports the regional and detailed mineral exploration in the country.
Need for the autonomy
Mining in India
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