COAL & MINES

Proposed mining reforms in a month; at least 500 blocks to be auctioned in 2-3 years: Joshi

The Centre is planning to come out with the proposed mining reforms in a month or so and the auction of mineral blocks will kickstart two to three months after the amendments take place, Coal and Mines Minister Pralhad Joshi has said. The mines ministry had earlier sought suggestions from the general public, mining industry and other stakeholders on the proposed reforms in the Mines and Minerals (Development and Regulation) Act, 1957.

“We want to bring these reforms very shortly…In another month or so reforms (proposed mining reforms) should come out,” Joshi said in an interview to .

The government, he said, is looking into the feedback it has received on the proposed reforms and stressed that the Centre wishes to auction at least 500 mineral blocks in the coming two to three years.

The slew of reform proposals include amending the contentious provisions of 10A(2)(b) and 10A (2)(C) of the MMDR Act, a move that would pave the way for auctioning of around 500 potential leases stuck in legacy issues now.

Section 10A(2)(b) deals with leases where reconnaissance permit or prospecting licence were granted while 10A(2)(c) relates to grant of mining leases.

Source
ET Energy World
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