Coal news and updates

Government targets to start auction in the lease possible time: Tomar

January 28: Government is taking all steps to start auctioning of mines in the least possible time, Narendra Singh Tomar, Union Minister of Steel and Mines said on January 28 in meeting held in Delhi.

According to an official release, the meeting was held to review the progress of several actionables under the newly passed Mines and Minerals (Development and Regulation) (Amendment) Ordinance, 2015 (MMDR Ordinance 2015).

“Our priority is not just to table the draft bill in next session of Parliament, but to start auctioning of mines in the least possible time,” the minister said.

The official release said that there was a detailed discussion on several points under the Ordinance, which included, such as the mechanism to determine mineralisation, scheme for District Mineral Foundation and National Mineral Exploration Trust, system for certification and monitoring of mining plans, differential area limits for different minerals, terms and conditions for granting non-exclusive reconnaissance permit, rules for transfer, rules and procedure for auction, finalisation of terms of reference, framing of standard templates, and updation of feasibility and geological reports.

“Timeline for each activity was duly delineated to speed up the process and meet with the Minister’s aim of beginning the auctions in the shortest possible time,” the release said.