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The Minerals Concession Rules, 2021

  • IASbaba
  • November 10, 2021
  • 0
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The Minerals Concession Rules, 2021

Part of: Prelims and Mains GS-II: Government policies

In News: Ministry of Mines has notified the Minerals (Other than Atomic and Hydro Carbons Energy Mineral) Concession (Fourth Amendment) Rules, 2021 to amend The Minerals (Other than Atomic and Hydro Carbons Energy Mineral) Concession Rules, 2016 [MCR, 2016].

Objectives:

  • Increasing employment and investment in the mining sector
  • Increase revenue to the States
  • Increase the production and time bound operationalisation of mines
  • Increase the pace of exploration and auction of mineral resources, etc.

Some of the rules – 

  • Provide for Sale of 50% of Mineral Produced from Captive Leases
  • Allows easy disposal of overburden/waste rock; part surrender of mining lease area allowed in all cases
  • Penalty Provisions in the Rules Rationalised

News Source: PIB

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