Home »Current Affairs » Articles »Mineral Laws (Amendment) Ordinance 2020

Mineral Laws (Amendment) Ordinance 2020

Posted on : 15 Jan 2020

Views: 383

  • Cabinet has approved promulgation of Mineral Laws (Amendment) Ordinance 2020.
  • These amendments will open up new era to the growth in the Coal and mining sectors. The Ordinance will ease rules for auctioning of coal mines and to open up to all sectors.
  • India has opened up the coal sector completely for commercial mining for all local and global firms after easing restrictions on end-use and prior experience in auctions via an ordinance.
  • The Union Cabinet on Wednesday approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend the Coal Mines (Special Provisions) Act, 2015, as well as the Mines and Minerals (Development and Regulation) Act, 1957. The amendment to the latter was required to begin auctions of iron ore mining leases before they expire in March this year.
  • The ordinance puts an end to captive coal block auctions in future and will have to be adopted in the upcoming Budget session once it is cleared by the President.
  • The government proposes to kick-start commercial coal mining auction process this month with release of bid rules and consultations with stakeholders.
  • Section 11A of the Mines and Minerals (Development and Regulation) Act provides that the central government can auction coal and lignite mining licences only to companies engaged in iron and steel, power and coal washing sectors. The companies also needed prior experience of mining in India to bid for the blocks.

Article Related Questions

  1. With reference to Mineral Laws (Amendment) Ordinance 2020 consider the following statements
    1.India has opened up the coal sector completely for commercial mining.
    2.The ordinance puts an end to captive coal block auctions in future.
    3.The companies need prior experience of mining in India to bid for the blocks.
    Which of the following statement is/are correct?

  2. 1.1 and 2 only

    2.2 only

    3.3 only

    4.1, 2 and 3

    Right Ans : 1, 2 and 3

Read More Current-Affairs Articles





See More Products