Regulatory Procedure for Entry in India Geologically, India is similar to mineral rich Australia, South Africa and South America, all of which originally formed a continuous landmass known as Gondwanaland. India possesses a rich wealth of mineral resources with a current industry producing 89 different minerals. The Indian Department of Mines is responsible for the survey and exploration of all minerals (other than natural gas and petroleum), for mining and metallurgy of non-ferrous metals such as aluminium, copper, zinc, lead, gold and nickel, and for the administration of the Mines and Minerals Act of 1957. It has jurisdiction over the Geological Survey of India (GSI) and the Indian Bureau of Mines (IBM). The National Minerals Policy was revised in 1994 to allow for private, foreign investment for the exploration of thirteen minerals, including zinc. It was revised further is 1999 including : The concept of reconnaissance operations as a stage of operations distinct from and prior to the actual prospecting operations have started The Reconnaissance Permit holder has preferred rights for granting of Prospecting Licenses The area restrictions of Reconnaissance Permits, Prospecting Licenses and Mining Licenses apply only state-wise Reconnaissance Permits may be granted for 3 to a maximum area in any state of 10,000 square kilometres Prospecting Licenses may be granted for 3 years with a renewal of 2 years for a maximum area of 25 square kilometers Mining Licenses may be granted for 20-30 years with renewal blocks of 20 years for a maximum area of 10 square kilometres
Regulatory Procedure for Entry in India Geologically, India is similar to mineral rich Australia, South Africa and South America, all of which originally formed a continuous landmass known as Gondwanaland. India possesses a rich wealth of mineral resources with a current industry producing 89 different minerals. The Indian Department of Mines is responsible for the survey and exploration of all minerals (other than natural gas and petroleum), for mining and metallurgy of non-ferrous metals such as aluminium, copper, zinc, lead, gold and nickel, and for the administration of the Mines and Minerals Act of 1957. It has jurisdiction over the Geological Survey of India (GSI) and the Indian Bureau of Mines (IBM). The National Minerals Policy was revised in 1994 to allow for private, foreign investment for the exploration of thirteen minerals, including zinc. It was revised further is 1999 including : The concept of reconnaissance operations as a stage of operations distinct from and prior to the actual prospecting operations have started The Reconnaissance Permit holder has preferred rights for granting of Prospecting Licenses The area restrictions of Reconnaissance Permits, Prospecting Licenses and Mining Licenses apply only state-wise Reconnaissance Permits may be granted for 3 to a maximum area in any state of 10,000 square kilometres Prospecting Licenses may be granted for 3 years with a renewal of 2 years for a maximum area of 25 square kilometers Mining Licenses may be granted for 20-30 years with renewal blocks of 20 years for a maximum area of 10 square kilometres