The Cabinet approved National Mineral Policy 2019 which will "lead to sustainable mining sector development" in future, while addressing issues of project affected persons, especially those residing in tribal areas. The 2019 policy proposes to grant status of industry to mining activity to boost financing of mining for private sector and for mineral assets. The aim of policy is meaningful & implementable policy.
The 2019 policy proposes to grant status of industry to mining activity to boost financing of mining for private sector and for acquisitions of mineral assets in other countries by private sector," said the release after the Cabinet meeting.
National Mineral Policy 2019 replaces the extant National Mineral Policy 2008 ("NMP 2008") which was announced in 2008.
The aim of National Mineral Policy 2019 is to have a more effective, meaningful and implementable policy that brings in further transparency, better regulation and enforcement, balanced social and economic growth as well as sustainable mining practices, it added.