New Indian mining legislation gets delayed further
KOLKATA (miningweekly.com) - The protracted process of developing new mining legislation has been further delayed with the Indian federal government proposing that the Mining Bill be referred to a committee, yet again, to review the clause about a 26% profit sharing with project-affected people.
This latest referral of the Mines and Mineral Development and Regulation Bill 2011, for further reflection, to another ‘core group’ was forced after the Parliamentary Standing Committee on Coal and Steel recommended scrapping the clause dealing with profit sharing from the proposed legislation.
The core group, set up by the Mines Ministry, would study the observations and recommendations of the Standing Committeel, which submitted its report to Parliament earlier this month.
“The Bill would have to be examined in the light of the Parliamentary Committee’s recommendations and only after a final decision was taken on profit sharing could the Bill be sent for Cabinet approval and subsequent placement in Parliament,” Mines Secretary R H Khwaja said in a communication to the provincial governments.
In the report, the Parliamentary panel recommended scrapping the profit-sharing clause in the case of coal and lignite mining, and instead incorporating provisions for payments to project-affected people based on royalties.
In the case of other minerals, the new legislation proposed payment of amounts equivalent to the royalty payable by mining companies to the provincial governments. The royalties would be used for development of locals in mining areas through the creation of a District Mineral Fund.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
At Airshrink - CiP, we surpass customer expectations with innovative MV and LV cable accessories, including heat shrink joints, terminations,...
VISIT SHOWROOM
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
