RAJ KUMAR
Ranchi, Oct.20: The Jharkhand government today notified the constitution of Jharkhand Exploration and Mining Corporation Limited (JEMCL) following the decision of the cabinet on September 28.
The JEMCL will carry out exploration in those mineral-bearing areas where exploration has not been done so far. Apart from this, it will also explore mining possibilities in abandoned mining lease areas. It will do core drilling of 50 lakh metres keeping a target of 1.5 lakh metres per year.
Apart from this, the JEMCL will do other exploration activities including remote sensing study, geological mapping, geophysical investigation, core logging, preservation and recording to basic data, sampling and analysis, data interpretation and correlation, 3D Modeling, preparation of plans and section and reserve resource estimation besides others.
The company will also prepare and publish the geological report and participate in the auction of mineral blocks within and outside the state. It will also prepare technical and financial bids for auctioning of mineral blocks besides working as a consultant for mine planning environmental clearances, mining and production and marketing of miners.
The company will be under the state government with a capital of Rs 1000 crore, which will be made available according to requirement. The Board of directors of the company will be nominated by the state government according to the provision of the Company Act. The company will do exploration work according to the direction of the state government after proper agreement.
The state government will pay the company with the earnings from auctioning of mineral blocks. The corporation will make an effort to get a grant from National Mineral Exploration Trust (NMET).
A mining department official welcomed the exercise saying after this notification the government should merge the geology department with the corporation as the latter is supposed to do all the work for which JEMCL has been constituted. Another official said it is an effort to take a grant from NMET and it will pave a path of loot in the field of exploration in the state.
Another official, however, said it was required. “When the mineral block is being provided by the process of auctioning, the investors will not turn up without knowing about the mineral reserve, and for this exploration is a must,” the official said.
