Centre plans to provide incentive for early commencement of production from auctioned mines

The government plans to provide incentive to mineral block allocatees for early commencement of production from the auctioned mines, a move aimed at increasing mineral output of the country and reducing imports.

The mines ministry plans to do the same through amendment of the mining rules and has sought comments and suggestions from stakeholders on the same. “The Ministry of Mines has prepared the Mineral (Auction) Amendment Rules, 2021 seeking to amend Mineral (Auction) Rules, 2015.

As part of the pre-legislative consultation policy, the draft Amendment Rules is made available… Comments / suggestions are invited from the general public, governments of states and union territories, mining industry, stakeholders, industry associations, and other persons and entities concerned, on the draft Amendment Rules,” the mines ministry said in a notice.

A high level committee (HLC) headed by Vice Chairman, NITI Aayog, on mines, minerals and coal sectors was constituted by the government to give recommendations for enhancing exploration and domestic production, reducing imports and achieving rapid growth in exports.

ET Energy World
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