Date | June 28, 2017:
As a total of 97 mining leases are set to lapse in 2020, the Union Mining Ministry has advised the states to submit action plans for re-auction of these mines by September 2017.
The action plan would focus on the roadmap for re-auctions of these leases. Various state level committees have already been formed with members from the Indian Bureau of Mines (IBM), Geological Survey of India (GSI), Mineral Exploration Corporation Ltd (MECL) and the state directorates of geology to formulate the roadmap, reported Business Standard.
The steel industry is worried about the impact on supply in case re-auction is not completed on time. Steel plants of eastern India which are operating without captive mines of their own rely heavily on iron-ore mines of Odisha, where a maximum of 32 mine leases is going to be expired.
However, the report, citing a government official said a six-monthly reporting system has been put in place to track the activities on exploration carried by the leaseholders.
Incidentally, in 2015, the validity of existing non-captive mines was extended till March 31, 2020, and those of captive leases till 2030 as per the amended Mines and Minerals (Development & Regulation) Act.
Apart from Odisha, 28 mine leases in Tamil Nadu, 12 in Madhya Pradesh followed by 11 in Gujarat, five in Andhra Pradesh, four in Rajasthan and two in Maharashtra are set to lapse in 2020.
(Source: http://www.moneycontrol.com/)