{"id":7153,"date":"2015-03-25T15:03:00","date_gmt":"2015-03-25T15:03:00","guid":{"rendered":"http:\/\/localhost\/sccblog\/?p=7153"},"modified":"2015-11-03T11:52:06","modified_gmt":"2015-11-03T06:22:06","slug":"mines-and-minerals-development-and-regulation-amendment-bill-2015","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2015\/03\/25\/mines-and-minerals-development-and-regulation-amendment-bill-2015\/","title":{"rendered":"Mines and Minerals (Development and Regulation) (Amendment) Bill, 2015"},"content":{"rendered":"<p style=\"text-align: justify;\">On 20-03-2015, the Parliament passed the Mines and Minerals (Development and Regulation) (Amendment) Bill, 2015. The objective of the Bill is to further amend the Mines and Minerals (Development and Regulation) Act, 1957 in order to address the emergent problems in the mining industry. The salient features of the Bill are as follows:<\/p>\n<ul style=\"text-align: justify;\" type=\"disc\">\n<li>Introduction of \u201cauction\u201d in the grant of mineral concessions by the State Government in order to bring greater transparency and removal of discretion.<\/li>\n<li>Increase the tenure of the mineral concession from the existing 30 to 50 years (thereafter, the Mining Lease would be put up for auction and not for renewal).<\/li>\n<li>Mining Leases would be deemed to be extended from the date of their last renewal to 31<sup>st<\/sup>\u00a0March, 2030 (in the captive miners) and till 31<sup>st<\/sup>\u00a0March, 2020 (for the merchant miners) or till the completion of the renewal already granted, if any, whichever is later,\u00a0 in order to permit the closed mines to start their operations.<\/li>\n<li>Establishment of District Mineral Foundation (DMF) in the districts where mining takes place, to address the long time grievance of the civil society with people affected by mining.<\/li>\n<li>Set up of a National Mineral Exploration Trust (NMET) created out of contribution from the mining lease holders to have a dedicated fund for undertaking exploration and flow of greater investment to the sector.<\/li>\n<li>Removal of the prior approval of the Central Government before the grant of mineral concession by the State Government to make the process quicker and simpler (Except in case of atomic minerals, coal and lignite).<\/li>\n<li>Approval of mining plan by the Government would no longer be mandatory.<\/li>\n<li>The Central Government has been given powers to intervene where State Governments do not pass orders within prescribed timeline in order to eliminate delay.<\/li>\n<li>Higher penalties and jail terms have been provided to bring a check on illegal mining.<\/li>\n<li>Constitution of special courts by the State Government for fast-track trial of cases related to illegal mining.<\/li>\n<li>Easy transferability of concessions obtained through auctions so as to attract private investment and FDI.<\/li>\n<li>Repeals the Mines and Minerals (Development and Regulation) Amendment Ordinance, 2015 promulgated by the President of India on 12-01-2015.<\/li>\n<\/ul>\n<div style=\"text-align: justify;\"><b>-Ministry of Mines<\/b><\/div>\n","protected":false},"excerpt":{"rendered":"<p>On 20-03-2015, the Parliament passed the Mines and Minerals (Development and Regulation) (Amendment) Bill, 2015. The objective of the Bill is to <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,4],"tags":[3271],"class_list":["post-7153","post","type-post","status-publish","format-standard","hentry","category-foreign","category-legislationupdates","tag-Minerals"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mines and Minerals (Development and Regulation) (Amendment) Bill, 2015 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2015\/03\/25\/mines-and-minerals-development-and-regulation-amendment-bill-2015\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mines and Minerals (Development and Regulation) (Amendment) Bill, 2015\" \/>\n<meta property=\"og:description\" content=\"On 20-03-2015, the Parliament passed the Mines and Minerals (Development and Regulation) (Amendment) Bill, 2015. 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