MINES AND MINERALS (Development and regulation Amendment Act, 2021)
FEATURES
- Removal of restriction on end-use of minerals: The Act provides that no mine will be reserved for particular end-use.
- Sale of minerals by captive mines: The act provides that captive mines may set up to 50% of their annual mineral production in the open market after meeting their own needs. The central government may increase this threshold through a notification.
- Auction by the central government in certain cases: The act empowers the central government to specify a time period for completion of the auction process in consultation with the state government.
- If the state government is unable to complete the auction process within this period, the auctions may conducted by the central government.
- Transfer of statutory clearances: The act provides that transferred statutory clearances will be volid through the lease period.