Parliament Passes Mines and Minerals (Development & Regulation) Amendment Bill, 2023
The Rajya Sabha has passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2023 for making amendments to the Mines and Minerals (Development and Regulation) Act, 1957 (hereinafter referred to as ‘the Act’) today. The Bill was passed by the Lok Sabha on 28.07.2023 and with the passage of the Bill in Rajya Sabha, the Bill will be sent to the President of India for assent. The MMDR Act, 1957 was comprehensively amended in 2015 to bring several reforms in the mineral sector, notably, mandating method of auction for grant of mineral concessions to bring transparency in allocation of mineral resources, for establishing District Mineral Foundation (DMF) for the welfare of the people and areas affected by mining and for establishing National Mineral Exploration Trust (NMET) to give thrust to exploration and for ensuring stringent penalty for illegal mining. The Act was further amended in 2016 and 2020 to address specific emergent issues and was last amended in 2021 to...