Odisha Channel Bureau New Delhi, April 9: Union Ministry of Mines has prepared the draft rules named `The Mineral (Auction) Rules, 2015’ for enabling auction of the mineral concessions as provided under the MMDR Amendment Act, 2015.The draft Mineral (Auction) Rules, 2015 have been uploaded on the website of the Ministry of Mines yesterday, inviting comments/ suggestions from the general public, Governments of States and Union Territories, Mining Industry, stakeholders, industry associations, and other persons and entities concerned by 23rd April, 2015.Earlier on 2nd April, 2015, Minister of Steel and Mines Narendra Singh Tomar had stated that the draft Rules to enable auctions of mineral concessions would be put out for consultation with the stakeholders within a week.The Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2015 has been notified on 27th March, 2015 to amend the MMDR Act, 1957.The amendment removes discretion in the grant of mineral concessions.Henceforth, all mineral concessions will be granted by the respective State Governments only through auctions, which will bring greater transparency and remove discretion in allocation of mineral resources.In this process, the Government will get increased share of revenue from the mining sector.Unlike in the 1957 Act, there would be no renewal of any mineral concession.The tenure of mineral concessions has been increased to 50 years compared to the earlier provisions of 30 years.Thereafter, all Mining Lease would be put up for auction (and not for renewal as in the earlier system).
April 9, 2015
April 9, 2015
0 Comment
Related Articles:
- Legendary singer Lata Mangeshkar passes away
February 6, 2022, 12:32 pm
- Telugu short film ‘Street Student’ wins first prize in NHRC competition
January 28, 2022, 12:10 pm
- Milind Soman completes ‘Green Ride’ to raise awareness against air pollution
December 14, 2021, 11:39 am
- Agitation of farmers is not just for the repeal of the three black laws: SKM
November 19, 2021, 8:23 am
- Study on enhancing disaster resilience in India’s urban slums released
August 27, 2021, 3:45 pm
- SEC-Jagan Govt. on collision course over panchayat polls
January 9, 2021, 2:06 pm
- Jagan on damage control mode, lays stone for reconstruction of nine temples
January 8, 2021, 2:52 pm
- Jagan breaks silence on attacks on temples, blames Telugu Desam
January 4, 2021, 2:32 pm
- 40th Indian scientific expedition to Antarctica launched
January 4, 2021, 11:27 am
- AP Govt credits Rs. 1,766 crore into accounts of farmers
December 29, 2020, 12:36 pm
Breaking News:
- Southwest will limit hiring and drop 4 airports after loss. American Airlines posts 1Q loss as well
April 25, 2024, 11:18 am - People Are Cackling At Monica Lewinsky's 'Iconic' Take On The Taylor Swift Meme
April 25, 2024, 9:35 am - Frontline Ukrainians Fear New Aid From U.S. Will Be a Disaster
April 25, 2024, 8:38 am - 'How Embarrassing': Trump Mocked For 'Pretending To Be President' In Strange Ceremony
April 25, 2024, 8:29 am - Trump Attorney Alina Habba Makes Blunt Admission About Trial, But It’s No Surprise
April 25, 2024, 8:25 am - 'Killer Clown' John Wayne Gacy's death row attorney reveals why he likely had dozens more victims — and help
April 25, 2024, 8:00 am - Trump Throws Absolute Fit In Late Night Rant For The Strangest Possible Reason
April 25, 2024, 7:18 am - Hamas official says group would lay down its weapons if a two-state solution is implemented
April 25, 2024, 4:26 am - A high-profile murder trial in Kazakhstan boosts awareness of domestic violence
April 25, 2024, 4:02 am - Woman wanted for assault inside Southern California retail shop
April 25, 2024, 3:42 am