Proposal to end iron ore leases of “no-output” mines

20 Jan 2021 Editorial Team

The mines ministry said it has prepared the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession (Amendment) Rules, 2021, seeking to amend the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016.

It added that the draft amendment rules had been made available as part of the pre-legislative consultation policy. Comments and suggestions have been invited from the mining industry, the general public, governments of states and union territories, stakeholders, industry associations, and other persons and entities concerned about the draft amendment rules.

Several successful bidders of such working mines whose previous mining leases expired in March 2020 have not started production even after a lapse of 7-8 months of auction and execution of mining leases in their favour.

Further, many successful bidders who have started production have not maintained the production and dispatch quantity up to the level required under Rule 12A of the Mineral Concession Rules (MCR), the ministry said.

The ministry said that it has been proposed to strengthen the norms of minimum production and dispatch through amendment of Rule 12A of the MCR Rules, 1960, to ensure sustained supply of minerals in the market in the future.

It added that the Rule 12A has been proposed to be amended to mandate a successful bidder to make a payment equivalent to the revenue share and other statutory levies that would have been payable at the prescribed level of minimum production/dispatch targets quarterly.

The ministry said termination of leases has also been proposed to be provided in the rules in case of failure to maintain prescribed production level for three consecutive quarters.

The decline in production and dispatch of important minerals such as iron ore not only leads to a spike in its market prices but adversely affects the manufacturing of iron and steel in the country too.

Also read: Amendments to mining laws get cabinet nod

Image Source

The Ministry of Mines (MoM) has proposed to terminate the iron ore leases of those working mines that have not started production even after a lapse of 7-8 months of auction and have not maintained minimum dispatch for three consecutive quarters. The ministry proposed to do so through the amendment of certain mining rules and has invited comments from the stakeholders on the same. The mines ministry said it has prepared the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession (Amendment) Rules, 2021, seeking to amend the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016. It added that the draft amendment rules had been made available as part of the pre-legislative consultation policy. Comments and suggestions have been invited from the mining industry, the general public, governments of states and union territories, stakeholders, industry associations, and other persons and entities concerned about the draft amendment rules. Several successful bidders of such working mines whose previous mining leases expired in March 2020 have not started production even after a lapse of 7-8 months of auction and execution of mining leases in their favour. Further, many successful bidders who have started production have not maintained the production and dispatch quantity up to the level required under Rule 12A of the Mineral Concession Rules (MCR), the ministry said. The ministry said that it has been proposed to strengthen the norms of minimum production and dispatch through amendment of Rule 12A of the MCR Rules, 1960, to ensure sustained supply of minerals in the market in the future. It added that the Rule 12A has been proposed to be amended to mandate a successful bidder to make a payment equivalent to the revenue share and other statutory levies that would have been payable at the prescribed level of minimum production/dispatch targets quarterly. The ministry said termination of leases has also been proposed to be provided in the rules in case of failure to maintain prescribed production level for three consecutive quarters. The decline in production and dispatch of important minerals such as iron ore not only leads to a spike in its market prices but adversely affects the manufacturing of iron and steel in the country too. Also read: Amendments to mining laws get cabinet nodImage Source

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Resources

16 Sep 2025

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Real Estate

16 Sep 2025

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..