Indian minerals exploration: play to win
The National Mineral Exploration policy (NMEP) can provide an impetus to exploration and generate a continuous flow of mineral blocks to be auctioned, according to an EY report titled' Indian minerals exploration - play to win.' With only 10% of the 8 lakh sq. km potentially resource-bearing area in India explored, exploration presents a large opportunity for both domestic and international players in the country. The Indian minerals exploration sector presents a large opportunity for domestic and global explorers supported by the new policy framework introduced by the government. Policy provisions like competitive bidding, revenue sharing and cost reimbursement for unsuccessful explorers are bold, innovative and move away from the traditional path adopted by most other countries.