Mining leaseholders urge govt to honour concessions saved under regulations

Fimi says existing leaseholders have invested huge resources and time to undertake risky exploration activities and have helped India to discover valuable mineral deposits

The Union government is aiming to open up around 500 mineral blocks for auctions, stoking fears of usurping concessions like Reconnaissance Permits (RPs) and Prospecting Licenses (PLs) of existing leaseholders.

These cases were saved under Section 10A 2(b) and 2(c) of the Mines and Minerals- Regulation & Development (MMDR) Act.

To ensure seamlessness in the mining sector, Finance minister Nirmala Sitharaman recently announced the introduction of Composite Exploration-Cum-Mining-Cum-Production License (CEMPL) and award of 500 mineral blocks via the open and transparent system of auctions.

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