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Govt likely to approve mining ordinance today

The coal ministry is thinking of dropping the proposed removal of mineral exploration by private companies

The government is likely to approve an ordinance incorporating the pending Mines and Minerals (Development and Regulation) Amendment Bill, 2014, on Monday. The proposal is for a new process of "auction by competitive bidding" for all mineral mines. According to objections, this is not practical, as it is difficult to gauge the amount of mineral present in a mine at the time of auction. More, a company cannot start mining right after an auction - it takes a long time to get other clearances, such as from the environment ministry. However, the government appears firm on this. ...