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The Central Government has identified copper as one of the 30 critical minerals, prompting policy interventions to stimulate its production. The Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2023, has introduced a new mineral concession, namely, an exploration license, specifically targeting 29 deep-seated and critical minerals, including copper.
Under the amended act, licensees are authorised to conduct reconnaissance and prospecting operations for these challenging-to-explore and mine minerals. The goal is to encourage the active involvement of private agencies, bringing advanced technology, financial investment, and expertise to the exploration of critical minerals. Accredited private exploration agencies, as per the MMDR Act, can now undertake exploration without the need for a prospecting license and are eligible for funding under the National Mineral Exploration Trust. These measures are designed to enhance the domestic availability of copper minerals and foster self-sufficiency.
The statement also addresses the status of the Smelter plant operated by M/s Vedanta in Tuticorin, Tamil Nadu. With an annual capacity of 2.34 lakh tonnes of refined copper, the plant has been non-operational since May 2018, following an order from the Government of Tamil Nadu. The matter is currently sub-judice in the Hon'ble Supreme Court, and a judgment is awaited.
This information was provided by Union Minister of Coal, Mines, and Parliamentary Affairs, Shri Pralhad Joshi, in a written response in the Rajya Sabha.
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