India’s draft national mineral policy proposes exploration incentives

India’s Mines Ministry has unveiled the draft National Mineral Policy (NMP) 2018, which proposes to offer mineral exploration companies the right of first refusal at the auction of any area explored by them. The draft NMP, which is now open for feedback from industry and stakeholders, maintains that a first right of refusal will incentivise global exploration majors to invest in exploration projects in the country.