MMDR Amendment Act, 2021

admin
admin November 6, 2021
Updated 2021/11/06 at 1:50 PM

The Indian Geological Survey has identified 100 geologically promising mineral blocks that will be auctioned off. The State Governments will get these 100 Reports, which will assure a steady supply of minerals in the country and additional money for them by placing more mineral blocks up for auction.

The MMDR Amendment Act of 2015 brought openness to the distribution of mining concessions through Prospecting Licenses and Mining Leases. In March 2021, the Mines and Minerals (Development and Regulation) Amendment Act was further liberalised as part of this ongoing effort. The recent amendment is expected to increase employment and investment in the mining sector, increase revenue to the states, increase production and time-bound operationalization of mines, maintain continuity in mining operations after a change of lessee, and accelerate mineral resource exploration and auctions.

 

Source: Press Information Bureau

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published.