Boost to production and pvt investment as mining reforms get green signal

Centre removes distinction between captive and merchant mines, will amend the Mines and Minerals (Development and Regulation) Act, 1957 to enforce reforms

The Union Cabinet is learnt to have approved a reform package for the mineral mining sector which would entail amendments to three existing laws, pricing formula for minerals, exploration of mines and several taxes and duties levied on mining. Officials said this is expected to boost production and private investment in the sector.

The Centre has removed the distinction between captive (self-use) and merchant (commercial sale) mines. The Centre would amend the Mines and Minerals (Development and Regulation) Act, 1957 (MMDRA) to enforce the reforms.

Senior officials said the amended MMDRA would be placed in Parliament in the upcoming session.