Question raised in Lok Sabha on Private Participation in Mining Sector, 03/07/2019
Question raised in Lok Sabha on Private Participation in Mining Sector, 03/07/2019. As per section 5(1) of the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957, mineral concessions are granted by the State Governments to any person who is either an Indian national or a company as defined in clause (20) of section 2 of the Companies Act, 2013 and satisfies such conditions as may be prescribed by the Central Government. The mining lease is granted through auction by a method of competitive bidding in respect of all major minerals specified in the MMDR Act, 2015. 64 nos. of mining leases have been granted through auction process to private sector by the States. The list of the leases and the expected revenue are given in the list (Annexure-I).