The new national mineral exploration policy is going to be ready by January which will seek to tap the private sector. Union Mines Secretary Balvinder Kumar told this to reporters on the sidelines of the India Copper Forum in Mumbai today. He informed, the draft exploration policy, which is in the public domain, will be revised to include some critical aspects. Mr. Kumar added that the government is working on a detailed plan to allow the private sector to actively participate in mineral exploration. He said, besides the centrally-run Mineral Exploration Corporation Ltd (MECL), state PSUs will also be encouraged to enter into joint ventures with global players for exploration.<br/><br/>Kumar also indicated, the government is likely to start auctioning mines by the end of this year, with around 70 leases planned in the first phase. The Mines Ministry has identified 199 mines throughout India for auctioning.