From NMET to NME&DT: What’s Changing in India’s Mining Fund?

From NMET to NME&DT: What’s Changing in India’s Mining Fund?

• Notification
• Aug 28, 2025

When you hear the words mining fund, most people think of the National Mineral Exploration Trust (NMET)—a pool of money created to boost mineral exploration across India.

But in the latest amendment to the Mines and Minerals (Development and Regulation) Act (MMDR), something interesting has happened:

The NMET is being rebranded as the National Mineral Exploration and Development Trust (NME&DT). 

At first glance, it feels like a small tweak—just an extra “D” for Development. But here’s why it matters.

What was NMET doing?

The NMET was set up in 2015 with a simple purpose—

- Mining lease holders had to contribute a percentage of their royalty into the trust. 

- That money was used exclusively for exploration: conducting surveys, drilling, and mapping untapped mineral resources

In short: it was India’s way of de-risking exploration, which is often too costly and uncertain for private players.

So why add “Development”?

Exploration is only half the journey. Finding minerals is one thing, but ensuring they’re actually brought into production sustainably and efficiently is another.

By renaming it as the National Mineral Exploration and Development Trust, the fund can now support not just exploration but also activities related to mineral development. 

That means:

-Financing pilot projects to test feasibility.

-Supporting infrastructureneeded to make exploration results commercially viable.

-Bridging the gap between “we found minerals” and “we’re producing minerals.”

Why does this matter for miners?

1. Wider scope of funding → Instead of being limited to early exploration, the Trust can now finance parts of the value chain closer to production.

2. Policy alignment → India wants to cut import dependency on critical minerals (like lithium, cobalt). This amendment gives flexibility to push projects faster from discovery to development. 

3. More responsibility → Officials will need to track not just exploration projects but also development-linked ones—meaning more scrutiny on how funds are allocated and outcomes measured.

The Bigger Picture

The shift from NMET to NME&DT signals that India is moving from just finding minerals to developing them strategically.

Because exploration without development is like drawing a treasure map but never digging for the gold.