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With reference to the National Mineral Exploration Trust (NMET), consider the following statements:
1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for establishment of National Mineral Exploration Trust (NMET).
2. The NMET fund is being utilized to undertaking studies for mineral development; regional and detailed exploration with special emphasis to strategic and critical minerals.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
With reference to the National Mineral Exploration Trust (NMET), consi...
Union Minister of Coal & Mines has urged the officials of the Ministry of Mines to bring about further momentum in restructuring the National Mineral Exploration Trust (NMET) as an autonomous body. He was addressing the third Governing Body meeting of the Trust.
- The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, has introduced transparent & competitive auction process for grant of mineral concessions.
- It also provided for establishment of National Mineral Exploration Trust (NMET) to give impetus to the mineral exploration activities.
- The holders of Mining Lease and Prospecting Licence-cum-Mining Lease make payments equivalent to 2% of royalty, for minerals under second schedule of the Act, as NMET contribution simultaneously with payments of the royalty.
- The NMET fund is being utilized to undertaking studies for mineral development; regional and detailed exploration with special emphasis to strategic and critical minerals.
Hence both statements are correct.
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With reference to the National Mineral Exploration Trust (NMET), consi...
The correct answer is option 'C' - Both 1 and 2.
Explanation:
The National Mineral Exploration Trust (NMET) was established under the Mines and Minerals (Development and Regulation) Act, 1957 as amended in 2015. The NMET was set up with the objective of promoting mineral exploration in the country. Let us analyze the given statements in detail:
1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for the establishment of National Mineral Exploration Trust (NMET).
- This statement is correct. The Mines and Mineral (Development and Regulation) Act, 1957 was amended in 2015 to include provisions for the establishment of the National Mineral Exploration Trust (NMET). The purpose of establishing NMET is to promote mineral exploration activities in the country.
2. The NMET fund is being utilized to undertake studies for mineral development; regional and detailed exploration with special emphasis on strategic and critical minerals.
- This statement is also correct. The NMET fund is being utilized to undertake studies for mineral development and regional as well as detailed exploration. The focus is on strategic and critical minerals, which are essential for the economic growth and security of the country. The NMET fund is used to carry out exploration activities to identify potential mineral deposits and assess their commercial viability.
The National Mineral Exploration Trust plays a crucial role in promoting mineral exploration in the country. It provides financial support for mineral exploration activities, which helps in increasing the mineral resource base of the country. This, in turn, contributes to the sustainable development of the mining sector and boosts the overall economic growth.
In conclusion, both statements are correct. The Mines and Minerals (Development and Regulation) Act, 1957 as amended in 2015, provides for the establishment of the National Mineral Exploration Trust (NMET), and the NMET fund is being utilized for undertaking studies for mineral development, regional and detailed exploration with special emphasis on strategic and critical minerals.
Explanation:
The National Mineral Exploration Trust (NMET) was established under the Mines and Minerals (Development and Regulation) Act, 1957 as amended in 2015. The NMET was set up with the objective of promoting mineral exploration in the country. Let us analyze the given statements in detail:
1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for the establishment of National Mineral Exploration Trust (NMET).
- This statement is correct. The Mines and Mineral (Development and Regulation) Act, 1957 was amended in 2015 to include provisions for the establishment of the National Mineral Exploration Trust (NMET). The purpose of establishing NMET is to promote mineral exploration activities in the country.
2. The NMET fund is being utilized to undertake studies for mineral development; regional and detailed exploration with special emphasis on strategic and critical minerals.
- This statement is also correct. The NMET fund is being utilized to undertake studies for mineral development and regional as well as detailed exploration. The focus is on strategic and critical minerals, which are essential for the economic growth and security of the country. The NMET fund is used to carry out exploration activities to identify potential mineral deposits and assess their commercial viability.
The National Mineral Exploration Trust plays a crucial role in promoting mineral exploration in the country. It provides financial support for mineral exploration activities, which helps in increasing the mineral resource base of the country. This, in turn, contributes to the sustainable development of the mining sector and boosts the overall economic growth.
In conclusion, both statements are correct. The Mines and Minerals (Development and Regulation) Act, 1957 as amended in 2015, provides for the establishment of the National Mineral Exploration Trust (NMET), and the NMET fund is being utilized for undertaking studies for mineral development, regional and detailed exploration with special emphasis on strategic and critical minerals.
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With reference to the National Mineral Exploration Trust (NMET), consider the following statements:1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for establishment of National Mineral Exploration Trust (NMET).2. The NMET fund is being utilized to undertaking studies for mineral development; regional and detailed exploration with special emphasis to strategic and critical minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the National Mineral Exploration Trust (NMET), consider the following statements:1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for establishment of National Mineral Exploration Trust (NMET).2. The NMET fund is being utilized to undertaking studies for mineral development; regional and detailed exploration with special emphasis to strategic and critical minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the National Mineral Exploration Trust (NMET), consider the following statements:1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for establishment of National Mineral Exploration Trust (NMET).2. The NMET fund is being utilized to undertaking studies for mineral development; regional and detailed exploration with special emphasis to strategic and critical minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the National Mineral Exploration Trust (NMET), consider the following statements:1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for establishment of National Mineral Exploration Trust (NMET).2. The NMET fund is being utilized to undertaking studies for mineral development; regional and detailed exploration with special emphasis to strategic and critical minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
With reference to the National Mineral Exploration Trust (NMET), consider the following statements:1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for establishment of National Mineral Exploration Trust (NMET).2. The NMET fund is being utilized to undertaking studies for mineral development; regional and detailed exploration with special emphasis to strategic and critical minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the National Mineral Exploration Trust (NMET), consider the following statements:1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for establishment of National Mineral Exploration Trust (NMET).2. The NMET fund is being utilized to undertaking studies for mineral development; regional and detailed exploration with special emphasis to strategic and critical minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the National Mineral Exploration Trust (NMET), consider the following statements:1. The Mines and Mineral (Development and Regulation) Act, 1957 as amended in 2015, provides for establishment of National Mineral Exploration Trust (NMET).2. The NMET fund is being utilized to undertaking studies for mineral development; regional and detailed exploration with special emphasis to strategic and critical minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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