Government supposed to gather approximately Rs 400-500 crore annually from contributions made to the National Mineral Exploration Trust (NMET).The money will be utilized to increase searching of minerals in the country.

Mines Secretary Balvinder Kumar, “NMET will utilize the funds primarily for the purpose of regional and detailed mineral exploration through special studies to identify, explore, extract, beneficiate and refine deep seated or concealed mineral deposits”

Kumar said "NMET has been established wherein 2 per cent of the royalty from mine owners shall be dedicated for exploration. An amount of Rs 400-500 crore is expected to be collected," he said.

He further adding says that, “Generally, the mines are in forest areas and mineral exploration affects the local inhabitants”

“An amount of Rs 6,000 crore is expected to come into the DMF annually”, Kumar noted.

Udo Scheurtzmann, Director ITE India said, “Regardless of challenging situation in the metal sector, efforts of the industry and the Indian government is encouraging”

The worldwide conference is a biennial B2B event that is organized by the Indian Institute of Metals in partnership with conferences and fair organizer ITE Group, PLC.