The Parliament recently passed the Mineral Laws (Amendment) Bill, 2020. The mining sector in India has been going under a face change since last year as the government took a series of actions regarding the mining sector. In the fourth tranche of the Atmanirbhar economic package, the Finance Minister spelled out reforms in the Mining sector. In this background, it is important to study the above-mentioned Bill.
Recently, the Parliament had passed the Mineral Laws (Amendment) Bill, 2020 to make changes in the Mines and Mineral (Development and Regulation) Act, 1957 and the Coal Mines (Special Provisions) Act, 2015. This is a significant step towards boosting the economy that is currently facing the brunt of the global recession and the pandemic. Though this Bill may improve India’s balance sheets by reducing the coal imports, it simultaneously causes a significant impact on the environment by opening the mining sector to the private players. The government must ensure that there is a strict regulation so that the people and the environment do not feel the negative impact of this move.
Recently, the Union Cabinet approved the National Mineral Policy, 2019 (NMP 2019) which replaces the National Mineral Policy 2008 (NMP 2008).
2019 Policy was based on the report submitted in the Ministry of Mines by Dr. K Rajeswara Rao committee after reviewing NMP 2008.
This policy seeks to ensure effective regulation and sustainable development of the mining sector.
This article explains the following in an analytical manner with a mindmap for quick revision:
- What are the objectives of the policy?
- What are the key provisions?
- What are the significances of the policy?
- What are the challenges and the way forward?
In August 2018, Union Cabinet approved a policy framework that permits both private and government players to explore and exploit unconventional hydrocarbons including shale gas.
The Central government has formulated a 5 year, Rs 8,000 crore plan to explore the deep parts of the Ocean for the possibilities of deep-sea mining. Union Ministry of Earth Sciences is tasked with coordinating the exercise and it recently unveiled a blueprint of the Deep Ocean Mission (DOM).