+
Amendment in Mining Act: A step towards building self-reliant India
COAL & MINING

Amendment in Mining Act: A step towards building self-reliant India

The Mines and Minerals (Development and Regulation) Amendment Bill, 2021 bill with amending some sections of the Mines and Minerals (Development and Regulation) (MMDR) Act, was recently passed in Lok Sabha and Rajya Sabha. What are some of the features and interpretations of those changes, and how will they affect mining businesses, licences, auctions, concession transfers, and operations? How will some of the rights of existing concessionaires change?

The Union Minister of Mines stated in one of his tweets that “With the Parliament passing Mines and Minerals (Development and Regulation) Amendment Bill, 2021, a stage is set for big-bang reforms in the mining sector. These reforms will make mineral mining sustainable and drive economic activities in the country”. This is major step in self reliant India, as the mineral sector contributes only 1.75% to the country’s gross domestic product (GDP), with India importing minerals worth Rs 2.5 trillion annually, whereas for countries like Australia and South Africa, it is contributing 7%. This comes against the backdrop of National Mineral Policy goals to increase mineral production by 200% in seven years.

Using 13 pointed data points in this guest article, Bhanu Prakash Bhatnagar, Head of Mining at Adani Cementation analyses those amendments and spotlights their salient features.

Read the full article here.

The Mines and Minerals (Development and Regulation) Amendment Bill, 2021 bill with amending some sections of the Mines and Minerals (Development and Regulation) (MMDR) Act, was recently passed in Lok Sabha and Rajya Sabha. What are some of the features and interpretations of those changes, and how will they affect mining businesses, licences, auctions, concession transfers, and operations? How will some of the rights of existing concessionaires change? The Union Minister of Mines stated in one of his tweets that “With the Parliament passing Mines and Minerals (Development and Regulation) Amendment Bill, 2021, a stage is set for big-bang reforms in the mining sector. These reforms will make mineral mining sustainable and drive economic activities in the country”. This is major step in self reliant India, as the mineral sector contributes only 1.75% to the country’s gross domestic product (GDP), with India importing minerals worth Rs 2.5 trillion annually, whereas for countries like Australia and South Africa, it is contributing 7%. This comes against the backdrop of National Mineral Policy goals to increase mineral production by 200% in seven years. Using 13 pointed data points in this guest article, Bhanu Prakash Bhatnagar, Head of Mining at Adani Cementation analyses those amendments and spotlights their salient features.Read the full article here.

Next Story
Infrastructure Urban

ITCONS Gains on New Rs 3.5 Million Defence Contract

ITCONS E-Solutions is trading at Rs 549.00, up by Rs 12.10 or 2.25 per cent from its previous close of Rs 536.90 on the BSE. The scrip opened at Rs 549.00 and has touched an intraday high and low of Rs 549.00, with 200 shares traded so far.A BSE ‘MT’ group stock with a face value of Rs 10, ITCONS touched its 52-week high of Rs 767.00 on 25 September 2024 and a 52-week low of Rs 166.70 on 5 August 2024. Over the past week, the stock has fluctuated between Rs 560.00 and Rs 510.60. The company's current market capitalisation stands at Rs 3.3 billion.Promoters hold 58.22 per cent of the compan..

Next Story
Infrastructure Urban

Delhi Extends EV Policy Till March 2026

The Delhi government has extended its existing Electric Vehicle (EV) Policy until 31 March 2026, or until a revised version is approved. The decision was made during a Cabinet meeting chaired by Chief Minister Rekha Gupta on Tuesday.According to Transport Minister Pankaj Kumar Singh, the draft of the new policy will undergo broader public consultation before being finalised, prompting the extension to allow time for thorough stakeholder engagement.The consultation process will include inputs from citizens, environmental groups, academic institutions, industry experts, and private firms. Key fo..

Next Story
Infrastructure Urban

Ather Crosses 400 Fast Chargers in Maharashtra

Electric two-wheeler manufacturer Ather Energy announced on Thursday that it has surpassed 400 fast charging points under its Ather Grid network across Maharashtra.The company's fast charging infrastructure now spans 35 cities in the state, including key urban centres such as Mumbai, Nashik, Pune, and Nagpur."Crossing 400 fast chargers in the state is about giving riders the assurance that they'll always find a charger when they need one. As we expand our retail presence, the charging network will continue to grow in tandem to make EV ownership truly seamless," said Ravneet Singh Phokela, Chie..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?