Srinagar, Jul 16: In a significant move, the Government of Jammu and Kashmir is planning to establish a Mineral Exploration Trust in the Union Territory.
To begin with, the government has framed rules to set up a Trust at the Union Territory level, to be known as the Union Territory of Jammu & Kashmir Mineral Exploration Trust, for the planned development and exploration of mineral resources.
The Union Territory of Jammu & Kashmir Mineral Exploration Trust Rules, 2026 lay down procedures for the functioning, objectives, and governance of the Trust.
As per the Rules, the Minister, Mining Department will be the Chairperson of the Governing Body of the Trust, while the Administrative Secretary, Finance Department, Administrative Secretary, Forest, Ecology & Environment Department, Administrative Secretary, Revenue Department, Administrative Secretary, Mining Department, Director, Geology and Mining, and Director Finance, Mining Department will be its members.
The Trust will also have a five-member Executive Body headed by the Administrative Secretary, Mining Department.
While the Governing Body shall approve the annual plan and annual budget of the Trust, the Executive Committee will have to manage, administer, and supervise it.
As per the Rules, all mineral concessionaires, including mining lease holders, quarry licensees, and permit holders-shall, in addition to paying royalty, contribute to the Mineral Exploration Trust Fund. The contribution shall be calculated at the rate of two percent of the royalty payable for the minor mineral extracted, as specified under the Jammu & Kashmir Minor Mineral Concession, Storage, Transportation of Minerals and Prevention of Illegal Mining Rules, 2016, as amended from time to time.
As per the Rules, the Trust shall prepare short‑term, mid‑term, and long‑term plans for the planned development of mineral resources in Jammu & Kashmir. The Trust shall also prepare a plan for exploration and facilitate exploration activities. It shall facilitate geo‑physical, ground, aerial, and geo‑chemical surveys of areas with obvious geological potential. The Trust shall undertake studies and advocacy on mineral development, sustainable mining, adoption of advanced scientific and technological practices, and mineral extraction metallurgy. (KNO)
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