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Industry Specific-Mines Central Ministry of Mines Mines and Minerals (Development and Regulation) Act, 1957

Amendment in Mines and Minerals (Development and Regulation) Act, 1957

28-Mar-2021 | CG-DL-E-28032021-226207

Ministry of Mines has introduced Mines and Minerals (Development and Regulation) Amendment Act, 2021 to amend Mines and Minerals (Development and Regulation) Act, 1957. Highlights of this Amendment Act are as follows: 1. Allowing exception to the restriction on any reconnaissance permit, mining lease, or prospecting license in respect of any area which is not compact or contiguous under Section 6(1)(c). 2. Period of mining lease of Government companies will be prescribed by the Central Government instead of 30 years. (Section 8) 3. 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. However, the lessee will have to pay additional charges for mineral sold in the open market. 4. In case of expiry of mining license, all valid rights, approvals, clearances, licenses and the like granted to a lessee in respect of a mine (other than those granted under the provisions of the Atomic Energy Act, 1962 and the rules made thereunder) will continue to be valid and will be transferred to, the successful bidder of the mining lease selected through auction under this Act. Earlier in case of expiry of the lease, all the transferred clearances used to be valid for 2 years only. (Section 8B) Provisions of this amendment act will come into force from the date specified by the Central Government.

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