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Mines and Minerals (Development and Regulation) Amendment Bill, 2021
March 24 , 2021
1268 days
856
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- 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).
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