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Rule change by mines ministry likely to benefit state-run companies

The lease would then be extended for a further period of up to 20 years at a time

T E Narasimhan  |  Chennai 

The recent notification of the central government which replaces the word “may” with “shall” on a key mining rule removes all ambiguity regarding renewal of operating leases allotted to state-owned entities. The ministry of mines has amended the Minerals (Mining) by Government Companies Rules, 2015.

In Rule 3, Sub-Rule 2, the phrase, “may, for the reasons to be recorded” has been changed to “shall, for the reasons to be recorded”. This, in effect, makes it imperative for a state government to renew the mining lease for minerals of a ...

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First Published: Tue, October 01 2019. 22:22 IST
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