The Centre will amend the Minerals Regulation Act to curb illegal iron ore exports to ensure that the country's mineral wealth was not "plundered", Union Law Minister M Veerappa Moily said on Friday.
* "We will be bringing in a revolutionary and speedy amendment to the Mineral Regulation Act in the form of Mineral Regulation Bill which will protect mineral resources and ensure it is not plundered and also facilitate value addition," he told reporters in Bangalore.
He said the bill was ready and would be placed before the Cabinet shortly.
"It may come up in the coming monsoon session of Parliament," Moily said when asked about alleged illegal export of iron ore from Belekeri port in Karwar in Karnataka.
To a query, he said it was not possible to impose a total ban on iron ore exports.