The Mines and Minerals (Development and Regulation) Amendment Bill 2021 has been passed by Lok Sabha on Friday. The Bill seeks to amend the Minerals (Development and Regulation) Act 1957 and provide for removal of distinction between captive and merchant mines. The Bill empowers the Central Government to issue directions regarding composition and utilization of funds maintained by the District Mineral Foundation. It provides that captive mines other than atomic minerals may sell up to 50 per cent of their annual mineral production in the open market after meeting their own needs.
CS SURBHI SAXENA
Surbhi Saxena edits the daily Current Affairs News.
The author is qualified member of The Institute of Company Secretaries of India (ICSI).