News and Events

Concessions for mineral prospecting operations

Mr Dinsha Patel minister of state for mines (independent charge) informed the Lok Sabha that the government has approved the draft Mines and Minerals (Development and Regulation) Bill, 2011 for introduction in the Winter Session of Parliament, 2011.

The draft Bill provides for a maximum area for mining lease at 100 square kilometer (as compared to 10 square kilometer at present), and for prospecting licence at 500 square kilometer (as compared to 25 square kilometer at present).

Apart from that, a new concession called High Technology Reconnaissance cum Exploration Licence is proposed over an area of 5000 square kilometer for deep seated deposits. The maximum area for reconnaissance would continue to be 10000 square kilometer.

The streamlining and simplifying the process of grant of concessions, provision for seamless transition of concessions, and transfer to eligible persons would enable an environment for attracting modern technology and investment in the mining sector.

All the exploration and mining activities in the country are undertaken in terms of Mines and Minerals (Development and Regulation) Act, 1957 and Rules framed there under, which provides for regulation of mines and development of minerals.