New Delhi | Jan 19, 2015:
The Centre has identified 199 mines of various minerals such as iron ore, bauxite and manganese ore that can be put up for auction under the provisions of the Mines and Minerals (Development and Regulation) (Amendment) Ordinance, 2015.
The Mines and Steel Minister Narendra Singh Tomar said: “According to our preliminary estimates 199 mines can be auctioned. But such auctions would also depend on the finalisation of modalities for conducting the auction and subordinate rules therein.”The mines are in the mineral-rich States of Karnataka, Madhya Pradesh, Odisha, Gujarat and Maharashtra.
The amendments to the MMDR Act were pushed through by way of an ordinance which was cleared on January 5 by Parliament and promulgated thereafter.
“This Ordinance is a step in revival of the mining sector in the country, hitherto stagnated due to various reasons. Auctions will bring in greater transparency and higher revenue for the States and simplification and transferability will attract private investments,” the Minister said in a statement, after a meeting with the Mines Minsters of various States here on Monday.
During the meeting, State Ministers and Secretaries agreed that the environment and forest clearance issues need to be resolved by the Ministry of Environments and Forests for providing unhindered support to the growth of mining industry.
(Source: http://www.thehindubusinessline.com/)