In my dream-2…mineral policy creates exploration service industries

Exploration boom crated due to the excellent mineral policy has caused a huge demand of geologists, geophysicists, drilling engineers, drill rig manufacturers and analytical laboratories. This is reminiscent of the exploration boom of 2004-2008, much of which bypassed India.

Universities are struggling to keep up with the demand and students are getting job offers even before they graduate. Top students and those certified by the Mineral Exploration Academy are getting five figure starting salaries. Explorers are vying to hire retired geologists as consultants and advisers.

Global geophysical service companies have set up shop, not only in Hyderabad and Bangaluru but in Bhubaneswar, Nagpur, Selam, Ranchi and Jaipur. Many have approached the Ministry of Civil Aviation to import their specially outfitted helicopters and planes suited for high resolution aero-geophysical surveys. Some companies are even bringing is high-end technology like electromagnetic and gravity surveys. The geophysics sector now occupies rental space at several airports and employs hundreds of pilots and aircraft maintenance crew. Top geophysics companies like Zonge, Geotech and Sander and are offering high-technology services of high power IP and magnetotelluric surveys that can detect mineralization signatures from over two kilometers deep!! Unconfirmed reports suggest that several new discoveries are being made outside of the Obvious Geological Potential (OGP) areas defined by the GSI.

Several foreign drill rig manufacturers have set up shop in India to manufacture high performance drill rigs, accessories and spares. The domestic auto component industry has suddenly found a new business opportunity and several are aligning their assembly lines to produce drilling spares and accessories. Many of the overseas rig manufacturers who started their business with imported knocked down kits have found the strong auto-part manufacturers and fabricators of Punjab ,a cost effective resources and are now sourcing their global supply of rig spares and accessories from India. Requirement for drilling additives, lubes and chemicals has seen a spike and after initial surge in imports of these chemicals, domestic chemical industry has started supplying these additives at extremely competitive rates. Some of these large additive manufacturers are now exploring opportunities of exporting these products to South America where the local drillers were struggling with Chinese products of inconsistent quality.

DISCLAIMER: This is a work of fiction. Names, characters, businesses, places, events and incidents are either the products of the author’s imagination or used in a fictitious manner. Any resemblance to actual persons, living or dead, or businesses, or actual events is purely coincidental.

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