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Mines And Minerals Amendment Bill, 2021 : Highlights

Mines And Minerals Amendment Bill, 2021 Introduced In Lok Sabha:

The Bill amends the Mines and Minerals (Development and Regulation) Act, 1957.

Highlights of the Bill:

  • Removal of restriction on end-use of minerals: The Bill provides that no mine will be reserved for particular end-use.
  • Sale of minerals by captive mines: The Bill provides that captive mines (other than atomic minerals) may sell up to 50% of their annual mineral production in the open market after meeting their own needs.
  • The central government may increase this threshold through a notification.
  • Auction by the central government in certain cases: The Bill empowers the central government to specify a time period for completion of the auction process in consultation with the state government.
  • If the state government is unable to complete the auction process within this period, the auctions may be conducted by the central government.
  • Transfer of statutory clearances: The Bill provides that transferred statutory clearances will be valid throughout the lease period of the new lessee.
  • Allocation of mines with expired leases: The Bill says that mines (other than coal, lignite, and atomic minerals), whose lease has expired, may be allocated to a government company in certain cases. The state government may grant a lease for such a mine to a government company for a period of up to 10 years or until the selection of a new lessee, whichever is earlier.

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