Kathmandu: The Department of Mines and Geology has recently authorized 432 companies with licenses for mine exploration across the nation. Operating from its Lainchaur headquarters since 2033 BS, the department is dedicated to the fields of mines and geology, with the latest move aimed at boosting mines-based industries in the country.

These licenses extend to a variety of potential mineral deposits, including iron, copper, gold, limestone, ruby, granite, kainite, and dolomite. Last year, the department had granted licenses to 374 mining companies, demonstrating a consistent effort to promote responsible exploration and mining activities.

Narayan Baskota, Information Officer of the Department, revealed that a considerable portion of the licenses was allocated for the exploration of limestone and copper. Notably, Chinese companies have shown interest in obtaining licenses for mine exploration.

It's noteworthy that only half of the licensed companies have initiated excavation for mine exploration, while the remaining entities are in the process of preparing for excavation activities, according to Baskota.

In a bid to ensure active engagement in exploration and excavation, the Department took action in the fiscal year 2022/23 by revoking licenses from 121 companies that failed to exhibit activity in these areas.