New Delhi: The Centre will comprehensively overhaul the Mines and Minerals (Development and Regulation) Act, 1957, seeking to replace the law with fresh legislation. Officials said this need for a streamlined new mining law is in line with Viksit Bharat 2047 goals.
"The existing MMDR Act needs to be simplified and modernised to harmonise provisions with related statutes and constitutional requirements," a senior official told ET.
An inter-ministerial committee (IMC) has been assigned to prepare this new law, the official said while adding it has representatives from ministries of coal, environment, steel, and mines. The committee also has members from the Department of Atomic Energy, and the Niti Aayog.
"Provisions keeping in mind future trends of the mining sector will be incorporated in the new law," the official said. This IMC will be consulting stakeholders, including states, and industrial bodies to prepare a draft of the mining bill.
There have already been 14 amendments to the MMDR Act 1957 till date. Of these, six amendments were moved from 2014 onwards, enabling auction of critical minerals, and allowing private exploration agencies.
The post-2014 amendments also created District Mineral Foundations (DMF) to ensure a part of the mining proceeds is spent in regions where extraction takes place.
The latest amendments to MMDR Act 1957 were approved by Parliament during the recent monsoon session. It increased the contributions from mining lease holders to a trust that funds exploration of critical minerals and development of supply chains.
"The existing MMDR Act needs to be simplified and modernised to harmonise provisions with related statutes and constitutional requirements," a senior official told ET.
An inter-ministerial committee (IMC) has been assigned to prepare this new law, the official said while adding it has representatives from ministries of coal, environment, steel, and mines. The committee also has members from the Department of Atomic Energy, and the Niti Aayog.
"Provisions keeping in mind future trends of the mining sector will be incorporated in the new law," the official said. This IMC will be consulting stakeholders, including states, and industrial bodies to prepare a draft of the mining bill.
There have already been 14 amendments to the MMDR Act 1957 till date. Of these, six amendments were moved from 2014 onwards, enabling auction of critical minerals, and allowing private exploration agencies.
The post-2014 amendments also created District Mineral Foundations (DMF) to ensure a part of the mining proceeds is spent in regions where extraction takes place.
The latest amendments to MMDR Act 1957 were approved by Parliament during the recent monsoon session. It increased the contributions from mining lease holders to a trust that funds exploration of critical minerals and development of supply chains.
