Recently, the Lok Sabha has passed a Bill to amend the Mines and Mineral (Development and Regulation) Act (MMDR Act) through a voice vote.
Key Changes beneath MMDR (Amendment) Bill 2021
· It removes the excellence between captive Associate in Nursingd non-captive mines and seeks to introduce an index-based mechanism by developing a National Mineral Index (NMI) for statutory payments.
· The National Mineral Exploration Trust (NMET) that is entrusted with responsibility of taking care of the functioning of the mining sector are going to be created Associate in Nursing autonomous body.
· Sale of minerals by captive mines: It proposes to permit captive miners of each coal and alternative minerals to throw away to fifty per cent of their production when meeting the wants of the end-use plant and on paying extra royalty to the regime.
· It proposes to mend extra royalty payments to states for the extension of mining leases for central public sector enterprises.
· Auction by the central government in bound cases: It proposes to empower the central government to conduct auctions or re-auction methodes for the grant of a mining lease if a regime fails to finish the auction process.
· Conditions for lapse of mining lease: The Act provides that a mining lease can lapse if the lessee: isnt able to begin mining operations inside 2 years of the grant of a lease, or has out of print mining operations for a amount of 2 years.
· The Bill adds that the edge amount for lapse of the lease could also be extended by the regime just once and up to at least one year.