KATHMANDU, Aug 17: The Department of Mines and Geology has granted licenses to 432 companies for exploring mines in the country.

The Lainchaur-based Department that has been working in the areas of mines and geology since 2033 BS has granted licenses to the companies to search for potential mines for the promotion of mines-based industries in the country.

Information Officer of the Department, Narayan Baskota said the licenses were granted to explore potential mines such as iron, copper, gold, limestone, ruby, granite, kainite and dolomite.

As informed the Department had issued licenses to 374 mining companies for the exploration of mines last year.

"Higher number of licenses were granted to explore limestone and copper," he shared, adding that those approaching for licenses for mine exploration were Chinese companies.

Only 50 percent licensed companies have started excavating for mine exploration while the remaining companies are in the process for excavation, according to Baskota.

The Department had scrapped the licenses of 121 companies for not being active in exploration and excavation in the fiscal year 2022/23. 

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