National Mineral Exploration Trust (NMET) has invited Expression of Interest (EoI) for empanelment of entities for providing exploration services for proposed mineral exploration projects in India.
Objectives & functions of NMET:
The objects and functions of the NMET includes (i) taking up exploration of areas for regional and detailed exploration, giving priority particularly to strategic and critical minerals; (ii) promoting completion of detailed exploration (G2 or G1) across India in the areas where G3 stage exploration has been completed; and (iii) implementing projects consistent with its objectives either on its own accord or upon receipt of project proposals from any state government or other entity.
In furtherance of its objects, NMET intends to empanel eligible entities who meet the prescribed technical and financial requirements for providing exploration services to NEA for proposed exploration projects with the assistance of exploration contractors.
Details of EoI request:
|
S.no |
Event Description |
Relevant details |
| 1 | Issuance of EoI request | 27 Dec’16 |
| 2 | Last date & time for submission of EoI | 30 Jan’17, 5:00 pm |
| 3 | Opening of EoIs | 31 Jan’17, 11:00 am |
| 4 | Publication of list of qualified interested explorers by NMET |
16 Feb’17 |
| 5 | Issuance of Letter of Empanelment to Empaneled explorers and publication of list of Empaneled explorers |
22 Feb’17 |
Qualification criteria:
Financial criteria – Interested explorer should have min. avg gross annual turnover of INR 1 crore only or equivalent in any currency for the last 2 (two) financial years ending 31 Mar’16 (or if the Interested Explorer follows a different financial year (other than April to March) then for the last 2 (two) financial years, as duly adopted by it and acceptable as per the laws applicable to it).
Interested Explorer should have minimum Net worth of INR 25,00,000 only or equivalent in any currency as on latest balance sheet date.
Technical criteria – The interested explorer must have a track record of existence of at least 2 years and must furnish appropriate incorporation documents. The interested explorer shall provide details of the geologists, geophysicists, resource modelling expert, project managers etc., along with their experience in exploration and current status as permanent or contractual employees or associates in the organisation at the time of submission of EOI.
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