Odisha to set up mineral exploration corp

Swetaparna Published On : Jan 15, 2016 at 5:33 PM

Odisha Sun Times Bureau
Bhubaneswar, Jan 15:

The Odisha government today decided to constitute a company in the name and style of Odisha Mineral Exploration Corporation to simplify auction process of mines in the state, informed R K Sharma, secretary Mines here today.

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“The state government had earlier brought a policy for mineral exploration which had a provision for setting up Odisha Mineral Exploration Corporation. Today a meeting was held to discuss in detail the modalities of the corporation. Based on the details of the modalities discussed today we will submit a formal proposal to the government,” stated Sharma briefing reporters.

The corporation will mainly undertake exploration of different minerals in the state, he added.

“Pursuant to Central government rules it is required to bring the exploration level to G-2 level,” Sharma explained.

“The corporation will be a 100% subsidiary of Odisha Mining Corporation (OMC). Since this corporation will have very little commercial activity and mainly engage in promotion, the state government will provide support to it. Modalities were discussed at today’s meeting; we will prepare a formal proposal and submit it to the government,” Sharma said.