On the rare meaning, China has given the world including India. Both electronics and auto sectors are facing difficulties due to reduced supply of rare meaning from China. According to experts, if the problem of rare meaning is not diagnosed soon, then in the coming days, there will be a full stop on the smartphone and production in the auto sector. To diagnose this problem, the central government has made up its mind to use its trump card.
The government has planned to acquire important mineral properties to search for rare minerals abroad. For this, the government has prepared a proposal to raise funds for such acquisitions from the National Minerals Exploration Trust. For this, the government is going to bring a bill of mining laws change in Parliament. This bill can be placed on the table of Parliament on Monday. Let us also tell you what is the whole matter from the end?
Bill change
The government will take approval from Parliament for changes in mining laws this week, whose main objective is to allow state funding for the acquisition of important mineral properties abroad. Giving information in the ET report, a senior official said that the proposal has been approved by the government and the amendment bill in the Mining and Minerals (Development and Regulation) Act can be introduced in Parliament on Monday.
The National Minerals is proposing to raise funds for such acquisitions from the money received from the Unpliest Trust (NMET). The trust currently has an amount of more than 6,000 crores, which has been collected from mining lease holders, who have to submit 2 % of the royalty with the government.
Promote a supply chain
The government is also considering changing the name of this trust. The government wants the word ‘Vikas’ to be included in its name, which will also increase its extended scope to cover the discovery, acquisition and development of important mineral properties abroad. The ET report informed in January that this year new amendments are expected to the MMDR Act, which aims to promote important mineral supply chains.
The Act was last amended to 2023. The official said that this amendment will solve the basic problem of the availability of important mineral raw materials. In addition to the financeing of new acquisitions, the Center is trying to allow the disposal of mineral dump through a lump sum sale from captive minings.
There will also be a change in the rules here
The official said that there are many captive mines where huge dumps of minerals have accumulated, these are dumps that have become useless due to not being necessary for lower grades or plants. He said that information received from the state governments indicates that more than half of the produced minerals are not used in captive and use plants.
The current rules that control captive mines do not allow the disposal of such dump. The official said that the proposed changes will give the states the right to allow the sale of garbage and waste placed in the leased area on payment of additional amount.
It is also proposed to simplify the rules to include newly discovered minerals and adjacent areas for including fees in the existing mining lease. The lease holder of a deep mineral resource can apply to increase the permit to include the adjacent area. This will be a one -time facility and the growth will be limited to 10 per cent of the existing leased area.