NEW DELHI: The Mines Ministry on Monday tabled the new Mining Bill in Lok Sabha proposing coal miners to share 26 per cent of the profit and non-coal miners’ 100 per cent of the royalty annually to project-affected people.
The Mines and Minerals (Development and Regulation) Bill, 2011, which will replace the over-a-century old, often-amended Act of 1957, also seeks to empower state governments to constitute special courts for the purpose of providing speedy trial of offences relating to illegal mining.
“The holder of a mining lease shall pay annually to the District Mineral Foundation…in case of major minerals (except coal and lignite) an amount equivalent to the royalty paid during the financial year,” the Bill proposes.
“…In case of coal and lignite, an amount equivalent to twenty six per cent of the profit…In case of minor minerals, such amount as may be prescribed by the State government with the concurrence of the National Mining Regulatory Authority,” it added.
The long-pending Bill also envisages introduction of competitive bidding process to encourage participation of private parties and a change in the role of the central and state governments, particularly to incentivise them for investing in exploration and mining. The Mines & Minerals (Development and Regulation) Bill, 2011 provides for a simple and transparent mechanism for grant of mining lease or prospecting licence through competitive bidding in areas of known mineralisation, and on the basis of first-in-time in areas where mineralisation is not known. (PTI)