Event Details
The Ministry of Coal, Government of India introduced the Mines and Minerals (Development and Regulation) Amendment Bill, 2021 which sought to amend the 1957 Act. There are certain key amendments, which have been made keeping in mind the issues and challenges faced by the erstwhile 1957 Act and with the aim of making it adept for future requisites. The new Amendment makes several changes regarding the clauses of restrictions on end-use, sale by "captive mines", and auctions, statutory clearances, extensions and more. The recent most amendment in the MMDR Act is carried out by the Mineral Laws (Amendment) Act, 2020 (the MLA Act). This amendment is carried out to take forward the agenda of ease of doing business and opening the mining sector for commercial mining and allowing domestic as well as global investors to invest.
The changes in MMDR Act aim to increase participation of the private sector in mineral exploration, clearly define illegal mining, remove the distinction between captive and non-captive mines, resolve legal issues, move towards auction only regime, develop a national mineral index, create tangible assets using district mineral fund etc.
There are questions over whether the proposed changes are legally tenable and will bring the desired investment and what impact they will have on the rights of tribal communities and forest dwellers.
Moreover, the mining sector in India was poised for robust growth in financial year 2020โ2021, on the back of rising demand from end-use sectors and fresh investments announced by the mining companies. However, the spread of COVID-19 second wave, right at the beginning of the financial year, has led to disruptions across industries.
Therefore, irrespective of the fact that various measures are being undertaken by the governmental machineries for instance excluding mining activities from the ambit of lockdown, the mining sector remains affected due to unavailability of requisite workforce, movement of materials, etc. In the circumstances and keeping in view the present unforeseen situation, it is anticipated that government authorities would address the difficulties currently being faced by the MDOs in terms of financial constraints, lack of manpower and restriction on movement of goods/material.
With a view to discuss various key issues & challenges in Metals & Mining industries , Indian Chamber of Commerce (ICC) in association with Department of Steel & Mines, Government of Odisha organizing the "NATIONAL METALS & MINING e SUMMIT (MMS)"- FOCUS โ POST PANDEMIC : BUILDING RESILIENCE IN MINING & METALS INDUSTRY AND THE WAY FORWARDat 1100hrs on 18th AUGUST 2021 at ICC Virtual platform.
