Stakeholders, analysts hail mining reforms

Mining sector stakeholders hailed the reform proposals approved by the Cabinet, but said that these structural changes should have come much earlier. The Cabinet on Wednesday cleared a proposal to amend relevant law for re-allocations of partially or minimally explored blocks through competitive bidding & offers seamless prospecting licence-cum-mining-leases. The changes will be effected by amending the Mines and Minerals (Development and Regulation) Act passed in 2015.

“There is not a single proposal for which the wait for six years is worth the while. All proposals are in the right direction, but has now come only after a huge lag. These could well have been part of the amendment of the MMDR Act, way back 2015. However, its always better late than never,” said a Karnataka-based mine owner.