Mining of conservation of minerals
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(i)removing discretion in grant of mineral concessions, as mineral concessions will now be granted through auction by competitive bidding;
(ii) allowing opening of mines which were closed due to pendency of decision on applications for second or subsequent renewal through extension of validity of lease period of the existing leases;
(iii) providing security of tenure of mining lease period with a uniform lease period of 50 years;
(iv) simplification of procedure, and removal of delay by eliminating requirement of prior approval of Central Government for grant of mining lease through auction;
(v) establishment of National Mineral Exploration Trust, a dedicated fund to encourage exploration to augment mineral resources;
(vi) allowing easy transferability of mineral concessions granted through auction, which would facilitate investments into the mining sector;
(vii) establishment of District Mineral Foundation, which will work for the interest and benefit of persons, and areas, affected by mining related operations.
(ii) allowing opening of mines which were closed due to pendency of decision on applications for second or subsequent renewal through extension of validity of lease period of the existing leases;
(iii) providing security of tenure of mining lease period with a uniform lease period of 50 years;
(iv) simplification of procedure, and removal of delay by eliminating requirement of prior approval of Central Government for grant of mining lease through auction;
(v) establishment of National Mineral Exploration Trust, a dedicated fund to encourage exploration to augment mineral resources;
(vi) allowing easy transferability of mineral concessions granted through auction, which would facilitate investments into the mining sector;
(vii) establishment of District Mineral Foundation, which will work for the interest and benefit of persons, and areas, affected by mining related operations.
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