Mineral Concession Rules 2021 to usher (4th Amendment)

Share with Your Friends

Mineral Concession Rules 2021 to usher (4th Amendment)

In order to facilitate ease of doing business in the domestic mineral sector, the Center has amended the Mineral Concession Rules, 2016 in a notification.

This includes some of the following major changes:

  • Allowing partial surrender of mines.
  • Allowing captive mines to sell up to 50% of minerals
  • Minerals produced from captive mines are for the exclusive use of the mine holding company.
  • Easy transfer of mines without any charges.
  • The penalty for delayed payment of royalty has been reduced to 12% from the earlier 24%.
  • The lessee will pay the additional amount as royalty to the state government.

Importance of amendment:

  • Ensuring better availability of minerals in the open market
  • This will eliminate a lot of pressure on production and pricing.
  • All major minerals are part of this amendment. Thus, other minerals including iron ore, bauxite, limestone, zinc and manganese will also benefit.
  • About 90% of the limestone mines are for captive mining, thus the cement industry will also benefit immensely.

Source- The Hindu

Download Our App

MORE CURRENT AFFAIRS

Was this article helpful?
YesNo

Click to Join Our Current Affairs WhatsApp Group

Join Our Whatsapp Group For Daily, Weekly, Monthly Current Affairs Compilation & Daily Mains Answer Writing Test & Current Affairs MCQ

In Our Current Affairs WhatsApp Group you will get daily Mains Answer Writing Question PDF and Word File, Daily Current Affairs PDF and So Much More in Free So Join Now

Register For Latest Notification

Register Yourself For Latest Current Affairs

June 2023
M T W T F S S
« May    
 1234
567891011
12131415161718
19202122232425
2627282930  

Mains Answer Writing Practice

Recent Current Affairs (English)

Current Affairs (हिन्दी)

Subscribe Our Youtube Channel

Register now

Get Free Counselling Session with mentor

Download App

Get Youth Pathshala App For Free

Hi, there

Welcome to Youth Destination IAS

We have a perfect gift For you:
Open Access to the Youth Destination Library

THANK YOU