Mine Exploration Ventures Flourish: 432 Companies Secure Licenses

The Department of Mines and Geology has granted licenses to a total of 432 enterprises for embarking on mine exploration initiatives across the country. This development underscores the department’s unwavering commitment to fostering mines-based industries and stimulating economic growth.

With its operational roots tracing back to the year 2033 BS, the Department, headquartered in Lainchaur, has been pivotal in the domains of mines and geology. This latest move sees the issuance of licenses aimed at facilitating the discovery of potential mines, encompassing a diverse range of valuable resources such as iron, copper, gold, limestone, ruby, granite, kainite, and dolomite.

Narayan Baskota, the Information Officer of the Department, shed light on the scope of these licenses, noting, “We have granted licenses to a broad spectrum of industries in order to explore and harness the potential of these precious resources, thereby propelling mines-based industries in the nation.”

Last year witnessed the Department extending licenses to 374 mining companies, showcasing an escalating interest in mine exploration endeavors. A notable surge was observed in licenses issued for the exploration of limestone and copper resources; a trend largely driven by Chinese companies.

Baskota revealed, “Chinese enterprises have prominently featured among the entities seeking licenses for mine exploration, particularly in the domains of limestone and copper.”

While a substantial portion of the licensed companies – 50 percent – has embarked on excavation activities for mine exploration, the remaining firms are diligently progressing through the preparatory stages, primed for their imminent ventures.

The Department’s stringent approach to ensuring active participation is evident as it revoked licenses from 121 companies that displayed inactivity in exploration and excavation during the fiscal year 2022/23. This decisive action underscores the Department’s commitment to maintaining a dynamic and proactive landscape within the mining sector.

The recent surge in licenses awarded and exploration initiatives embarked upon signal a positive trajectory for Nepal’s mines-based industries. As the nation propels itself forward, these endeavors are poised to contribute significantly to economic expansion and resource utilization.