TN may lose right to license mining of beach minerals

The eight minerals proposed to be placed in Part D include rare earths group containing uranium and thorium. Pictured is a uranium-ore mining site in AP THOOTHUKUDI: The Union Ministry of Mines has proposed to amend the Mines and Minerals (Development and Regulations) Act, 1957, (MMDR Act) to reform the sector and empower the Centre to auction mineral concessions. The power to issue licences for mining beach minerals now exclusively lies with the States. The ministry has invited public comments and suggestions on the proposed amendments on or before June 15.

Miners say if the proposals take effect private players may be able to mine beach sand minerals again after it was banned in 2019 through an amendment to the MMDR Act.The key amendments proposed include delisting of eight minerals from Part B atomic minerals list of the first schedule and bringing them under the newly created Part D section […]

Click here to view original web page at www.newindianexpress.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.