Amendment to the Mines and Minerals Act, 1957

On 10th March, 2022, the Union Cabinet approved the proposal for amendment of Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957 for specifying the rate of royalty in respect of Glauconite, Potash, Emerald, Platinum Group of Metals (PGM), Andalusite, Sillimanite and Molybdenum.

Need

  • India is totally dependent on import for the minerals like Glauconite/ Potash, Emerald, Platinum Group of Metals (PGM), Andalusite and Molybdenum.
  • As a major step towards mineral self-sufficiency, many State Governments have identified such mineral blocks for auction.
  • However, the rate of royalty for these minerals were not separately provided and was not appropriate ....
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