Ministry of Mines on December 20, 2021, has issued the provision for extension of the Mining Lease. As per section 8A which specifies periods for which mining leases may be granted or renewed of Mines and Minerals (Development and Regulation) (MMDR) Act, 1957, on and from the date of commencement of the MMDR Amendment Act, 2015 (w.e.f January 12, 2015), all mining leases shall be granted for the period of fifty years.
On the expiry of the lease period, the lease shall be put for auction as per the procedure specified under the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957.
However, in the case of government companies or corporations, the period of mining leases, other than the mining leases granted through auction, shall be extended on payment of such additional amount as specified in the Fifth Schedule of the MMDR Act for further periods of twenty years at a time by State Government upon an application made to it by government company or corporation.
(Release ID :228847)
