Mines and Minerals Bill passed in RS, special focus on critical minerals

The Rajya Sabha has passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2023. The Bill aims to make amendments to the Mines and Minerals (Development and Regulation) Act, of 1957.

The bill has been already passed in the lower house of the parliament on July 28, 2023, and since the bill has been passed in the upper house as well, it is clear to be sent to the President of India for assent.

The bill focuses on critical minerals and introduces reforms in the mining sector, the Ministry of Mines said in a press release.

Major changes introduced through the bill include:

• Omission of six minerals from the list of 12 atomic minerals given in Part-B of the first schedule of the act, namely, lithium bearing minerals, titanium bearing minerals and ores, beryl and other beryllium-bearing minerals, niobium and tantalum bearing minerals and Zirconium-bearing minerals.
• The bill confers upon the centre the exclusive right to auction mineral concessions for critical minerals specified in part D of the first schedule of the Act.
• The bill also introduces provisions for exploration licenses for deep-seated and critical minerals.

Deep-seated minerals refer to gold, silver, copper, zinc, lead, nickel, cobalt, platinum group of minerals, diamonds, etc. are high-value minerals.

These minerals hold great significance for new-age electronics, the transition to clean energy (solar, wind, electric vehicles) as well as in traditional sectors like infrastructure and defence, among others.

The PIB press release said that there is a need to augment the exploration and mining of deep-seated minerals.