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

Canal Water Boost for Mudki

In a significant push for public health and urban development, MLA Rajneesh Dahiya has announced a Rs.280 million canal water supply project for Mudki town in the Ferozepur Rural constituency. The initiative aims to provide clean drinking water to every household within Mudki’s municipal limits. Speaking about the development, Dahiya said the project falls under the Centre’s AMRUT (Atal Mission for Rejuvenation and Urban Transformation) scheme and is being carried out with the support of Punjab Chief Minister Bhagwant Singh Mann and Local Government Minister Dr. Inderbir Nijjar. “This ..

Next Story
Infrastructure Transport

6 Tunnel Boring Machines Idle in Chennai

Six tunnel boring machines (TBMs) deployed by the Chennai Metro Rail Limited (CMRL) are currently lying idle beneath city roads, stuck in limbo due to delayed construction of underground stations at Moolakadai, Perambur, and Mandaveli. The TBMs, launched as part of Corridor 3 of the Phase II Metro project from Madhavaram to SIPCOT, have reached their designated stations but are unable to proceed as the station boxes are incomplete. Without a completed diaphragm wall or station box, the machines cannot break through or be dismantled for reuse. According to CMRL officials, the root of the dela..

Next Story
Infrastructure Transport

Mumbai Metro 3 Nears Launch

The Mumbai Metro Rail Corporation shared a sneak peek of the newly completed Acharya Atre Chowk station on Metro Line 3 (Aqua Line) this Sunday, drawing both praise and impatience from the public. Located on the 9.77 km stretch between Bandra Kurla Complex (BKC) and Worli, the underground station is part of a long-anticipated corridor that promises to ease traffic and boost east-west connectivity. The social media update, posted by the handle @MumbaiMetro3, featured images of the station’s sleek new interiors. But the post quickly sparked a flurry of comments, with several users demanding c..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?