Explanation:

Both Statements are correct.

• The Mines and Minerals (Development & Regulation) Act, 2015 amends the Mines and Minerals (Development and Regulation) Act, 1957.

• New category of mining license: i.e. the prospecting license-cum-mining lease is created. It will be granted by state governments for both notified (with the approval of central government) and other minerals.

• All leases shall be granted through auction by competitive bidding, including e-auction.

• It provides for the creation of:

• District Mineral Foundation (DMF)

• National Mineral Exploration Trust (NMET)

Hence option 3rd is correct.