• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours How Far Have We Really Gotten With Alternative Energy
  • 9 days What fool thought this was a good idea...
  • 7 days A question...
  • 12 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 13 days They pay YOU to TAKE Natural Gas
  • 18 days The United States produced more crude oil than any nation, at any time.
China’s Iron Ore Imports Expected to Hit Record High This Year

China’s Iron Ore Imports Expected to Hit Record High This Year

A recent Reuters report quoted market analysts…

Anglo-American Pivots to Copper Amid BHP's Hostile Takeover Bid

Anglo-American Pivots to Copper Amid BHP's Hostile Takeover Bid

Anglo-American unveils a comprehensive plan…

EU Courts Kazakhstan and Uzbekistan for Critical Raw Materials

EU Courts Kazakhstan and Uzbekistan for Critical Raw Materials

Increased offshore exploration for rare…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Looking For New Exploration Frontiers? Here Are 30.

Some of the biggest potential for profit is created when new geographies open for exploration.

Especially when those spots come with proven potential.

The world got news of one such up-and-coming locale this week. In India's northwestern state of Rajasthan.

Local press reported that the Rajasthan state government has identified 30 new exploration blocks. Which it now hopes to open to bidding from the private sector. Related: Energy Stocks: Undervalued Or Value-Trap?

The news came as part of a meeting between officials from India's national government and representatives of Rajasthan's state government. With the state officials formally notifying the national government of their intent to offer the blocks up for bids.

The most attractive part is, the areas on offer have already seen a good deal of government-backed work. With potential reportedly identified for base metals, iron ore, gold, potash, manganese and more.

In fact, as part of this week's meeting, India's national Steel and Mines Minister Narendra Singh Tomar shared detailed reports on many of the locations -- which have been prepared by the central government and will be available as part of the bidding process. Related: Bankruptcies Starting To Pile Up In Coal Industry

Few details have been released beyond this. But official comments suggest that a number of the properties are already well advanced -- with state officials saying that more than half of the new licenses will be offered as "mining leases." Suggesting they are at a near-development stage.

The remainder of the new areas will be offered as prospecting licenses. But many still have considerable potential -- as indicated by the work already completed.

All of this is great news for the exploration sector. Not only because of these specific opportunities, but also because this signals that India as a whole is opening to minerals development. Related: This Is Why The U.S May Actually Not Be The No.1 Oil Producer

That would be a welcome happening in a place where regulatory issues have all but stymied exploration for decades. Despite phenomenal potential in commodities like gold, iron ore, and vanadium.

Watch for the level of interest from the private sector -- and particularly foreign developers -- in the new properties on offer.

ADVERTISEMENT

Here's to opening up,

Dave Forest

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Andy on August 04 2015 said:
    where is 2-30......

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News