Govt Likely To Roll-Out Pending Mining Sector Reforms In January; To Pave Way For Auctioning Of At Least 500 Mines In 2021

In a positive development, the government is set to roll out the remaining proposed reforms for the mining sector in January, which would then pave the way for auctioning of at least 500 mineral blocks across the nation, reports Financial Express.

Sharing the development, Secretary, Ministry of Mines Anil Kumar Jain emphasised that 2021 will be a "bridge year between the past and the future."

Kumar exuded confidence that 2021 will see hectic activity in the mining sector with reforms involving changes in the MMDR Act (Mines and Minerals (Development and Regulation) Act, 1957) and some changes in the rules all meant to liberate the sector are likely to be approved in January. The government is also considering the rationalisation of taxes to attract investments.

It should be noted that as a part of its Atmanirbhar Bharat policy push, the government has already implemented several reform measures for the mineral sector, leading to the successful auction of 28 operative mines (24 iron ore, iron and manganese ore, and chrome ore mines in Odisha, and 4 iron ore mines in Karnataka) the previous lease for which had expired on 31 March 2020.

With further reforms, the government is aiming to give a fillip to the mining of minerals like gold, diamond, platinum, copper, zinc and lead with greater participation of the private sector.