Mines and Minerals (Development and Regulation) Amendment Bill, 2021
March 24 , 2021 1268 days 857 0
It seeks to amend the Minerals (Development and Regulation) Act 1957.
It aims to provide for the removal of the distinction between captive and merchant mines.
It empowers the central government to issue directions regarding the composition and utilization of funds maintained by the District Mineral Foundation.
It allows the centre to reserve any mine (other than coal, lignite, and atomic minerals) to be leased through an auction for a particular end-use (such as iron ore mine for a steel plant).
The Minerals (Development and Regulation) Act 1957 provides that the states will conduct the auction of mineral concessions (other than coal, lignite, and atomic minerals).