Firms may sell mines under proposed changes to mining law

Under current laws, a company cannot sell mines but only transfer leases when it is acquired by another firm


The central government, after allowing commercial mining in the coal sector, is now planning to permit companies to sell mines of all minerals, except atomic ones, by providing transferability under the mining law. Under the law in force at present, a company cannot sell mines it holds to other companies, though leases are transferred whenever a mining company is taken over. The government plans to add in the Mines and Mineral Development and Regulation (MMDR) Act a chapter allowing such transferability for all but atomic minerals, after securing permission from the state government ...