The government announced promulgation of the ordinance for amendment in the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957 and the Coal Mines (Special Provisions) Act, 2015 to open up new areas of growth in the coal & mining sector.
The amendments in the Acts would enable the following:
- Enhancing the ease of doing business
- Democratization of coal mining sector by opening it up to anyone willing to invest.
- Offering of unexplored and partially explored coal blocks for mining through prospecting license-cum-mining Lease (PL- cum-ML).
- Promoting Foreign Direct Investment in the coal mining sector by removing the restriction and eligibility criteria for participation.
- Allowing of successful bidder/allottee to utilise mined coal in any of the plant of its subsidiary or holding company
- Attracting large investment in coal mining sector as restrictions of end use has been dropped.
Source : Economic Times