Govt may come out with new policy on minerals allocation | business | Hindustan Times
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Govt may come out with new policy on minerals allocation

The new coal mining policy is likely to set the tone for more transparent schemes in mining of other minerals and give more regulatory powers to state governments.

business Updated: Oct 22, 2014 07:15 IST
Chetan Chauhan

The new coal mining policy, which proposes e-auction of blocks to private companies, is likely to set the tone for more transparent schemes in mining of other minerals and give more regulatory powers to state governments.

The Centre is likely to come out with a uniform policy on the allocation of minerals for mining purposes, in a bid to check illegal mining.

The mines ministry would bring in changes to the Mines and Minerals (Development and Regulation) Act in the winter session of Parliament to introduce e-auction for mining sites across India, a senior ministry official told HT.

The process of allocating leases and mining activity would also be made more transparent, and regulatory framework more robust.

“The amendments will delegate more power to state governments in regulating the mining business, and the concept of buying and selling mining rights will also be introduced with certain conditions,” the official said.

The ministry is also working on using a satellite-based technology for monitoring mining operations across India with the help of state governments, to check illegal mining in several states including Goa, Odisha, Jharkhand Karnataka.

According to estimates of the Supreme Court-appointed MB Shah panel, minerals worth Rs. 50,000 crore have been illegally mined in Odisha alone.

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