Government elucidate and pronounced to execute newly rectified mining laws

In the cabinet meeting, the Indian government has reformed the mining law to remove restrictive end-use conditions on confined mines and resolve legacy issues by exploring more shots for auction. The structural modifications in the mining sectors have been approved through amendments to the MMDR Act(1957). These changes will affect minerals like gold, diamond, platinum etc. bringing about prodigious investment. The reformation will allow captive mines to sell up to half of their minerals excavated annually, minimizing the divergence between the merchant and captive mines. Section 10A(2) (b) and 10A(2)(c) deal with prevailing leases where surveillance permits and grants of a lease to resolve legacy issues of mines through auctions respectively. Those who proposed to transfer non auctioned mines to the willing will not have any charges imposed on them. Several other reforms approved by the cabinet include a proper license for production and exploration, refrained double taxation, transparency in illegal mining, and utilization of regional mineral funds.

Go Back