Mining sector: FM Nirmala Sitharaman unveils reforms in mineral mining sector

Economy


New Delhi: Finance Minister Nirmala Sitharaman on Saturday announced major reforms in the mining of minerals through a seamless composite exploration-cum-production regime.

She said 500 blocks of minerals will be auctioned in a composite exploration-cum-mining-cum-production regime.

Also, a joint auction of bauxite and coal blocks would be done to enhance the aluminium industry’s competitiveness.

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This, she said, will help the aluminium industry reduce electricity costs.

She said the distinction between captive and non-captive mines will be removed to allow the transfer of mining leases and sale of surplus unused minerals, leading to better efficiency and production. JD ANZ MR



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