Major Reforms – Private Sector in exploration of Mines and Minerals
Long awaited Major Reforms – Private Sector entry in Mining & Exploration for atomic and deep-seated minerals near reality – Amendment Bill of 2023 -Mines & Minerals Act, 1957
Yesterday the Bill of 2023 to amend the Mines and Minerals (Development and Regulation) Act, 1957, was passed.
The Statement to the Bill unfolds the salutary objects of licence to private sector for mining and exploration in deep-seated and atomic minerals.
The atomic minerals – lithium, niobium, titanium, tantallium and zirconium are required for space, electronics communications energy sector, electric batteries and critical in net-zero commitment of the country.
The deep-seated minerals are gold, silver, copper, zinc, lead, nickel, cobalt, platinum, diamonds, etc.
To my mind, these major reforms aimed at enhancing mineral production at a large extent will go a long way to take the country to the post 3rd largest economy of the world.
