The most-debated aspect of the bill is its recommendation for substantial payouts to people living in mining areas, including a profit-sharing clause that seeks to have companies pay out 26% of their net profit The Mines and Minerals (Development and Regulation) (MMDR) bill, which seeks to replace a decades-old mining law, has been introduced in the Lok Sabha, an official in Parliament said on Monday. The government has drafted the new bill...
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New mining law unlikely before next year as Bill heads for closer look by Aman Malik, Liz Mathew & Ruchira Singh
The Mines and Minerals (Development and Regulation) (MMDR) Bill, which seeks to replace a decades-old mining law, was introduced in the Lok Sabha on Monday, but may become law only by next year as a parliamentary committee is now expected to examine it over the next few months, a mines ministry official said. “The standing committee will be looking at the Bill. They might take two-three months to examine it,” said...
More »'Draft Mining Bill will harm mining companies' by S Thiagarajan
Two months ago, Cabinet approved a draft law that seeks to create a better legislative environment to attract investments in mining and ease land acquisition through higher compensation to people displaced by projects. This show of goodwill could help the government win some hearts in troubled landscapes of Orissa and Karnataka. But mining companies are not entirely convinced as they have to pay higher royalties and want changes to be made...
More »CAG opens new front against govt by Appu Esthose Suresh & Utpal Bhaskar
Opposes changes in bid norms, extra land acquisition and move to allow bidders to develop more than one UMPP The government’s auditor has come down hard on irregularities in the government’s policy on so-called ultra mega power projects, or UMPPs. The report of the Comptroller and Auditor General of India (CAG), parts of which have been seen by Mint, is with the power ministry for its comment, and could cause further embarrassment...
More »Pattas for Saranda villagers by month-end by Pheroze L Vincent
Jharkhand and the Centre today gave final shape to a plan that aims to improve the lives of 36,000 people living in Saranda forest. At a high-level meeting in Union rural development minister Jairam Ramesh’s office, chief minister Arjun Munda discussed a time-bound strategy to implement the Saranda Action Plan. Ramesh said by November 10, Jharkhand would start appointing rozgar sevaks (employment facilitators) for each of the 56 villages in the area....
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