By Bizodisha Bureau, Bhubaneswar, January 15, 2016 : Odisha Mineral Exploration Corporation [OMEC] will shortly be formed to identify new mines and minerals in the State and  simplify auction process of mines in the state, according to steel and mines secretary R K Sharma.

“The state government had earlier brought a policy for mineral exploration which had a provision for setting up Odisha Mineral Exploration Corporation. Today a meeting was held to discuss in detail the modalities of the corporation. Based on the details of the modalities discussed today we will submit a formal proposal to the government,” Sharma told reporters after presenting the proposals before an inter-departmental coordination meeting chaired by chief secretary, Aditya Prasad Padhi.

“The corporation will be a 100% subsidiary of Odisha Mining Corporation (OMC). Since this corporation will have very little commercial activity and mainly engage in promotion, the state government will provide support to it. Modalities were discussed at today’s meeting; we will prepare a formal proposal and submit it to the government,” Sharma said.

The meeting deliberated on various facets of the structure and functioning of the proposed Corporation. The objectives of the Corporation, modalities for formation, magnitude of its works, staffing pattern, funding provisions etc figured in the meeting.

The corporation will mainly undertake exploration of different minerals in the state, he added.

Odisha has around 700 square kilometers of virgin and free hold area bearing the minerals like asbestos, bauxite, china clay, cobalt, chromites, fireclay, graphite, limestone, manganese, mineral sand, nickel, platinum group materials ( PGM), tin ore and vanadium apart from coal and iron ore.

Till now, explored mines account for around 7% of the Gross Domestic Product of the State.

The vast reserves of minerals have substantial scope for enhanced contribution to State’s GDP.

The mining potential of this 700 Sq. Kms unexplored area needs scientific exploration activities. Near about 50 lakh meters of core drilling has to be done in this exercise. Experts say, with available technology, around 1.5 lakh meter core drilling can be done per year requiring around 30- 35 years for drilling of the entire area.