Mines ministry prepares draft rules for mineral auction

KOLKATA: The union mines ministry has prepared the draft Mineral (Auction) Rules, 2015 for auction of mineral concessions under the MMDR Amendment Act, 2015. The draft rules have been uploaded on the website of the ministry of mines, inviting comments/ suggestions from the general public, state governments and union territories, mining industry, various stake holders an industry associations by April 23, 2015. The steel and mines had said last week that the draft rules to enable auctions of mineral concessions would be put out for consultation with the stakeholders within a week.

The Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2015 was notified on March 27, 2015 to amend the MMDR Act, 1957.