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Mines & Minerals Act 2023: Overview



  Apr 06, 2024

Mines & Minerals Act 2023: Overview



has indeed brought about pivotal changes to India’s mining laws, with a focus on atomic minerals. Here’s a summary of the key amendments:

Amendments to Atomic Minerals Act:

Omission of Certain Minerals: Six minerals have been removed from the list of atomic minerals, which previously included twelve. Notably, this change pertains to lithium-bearing minerals, titanium-bearing minerals and ores, and zirconium-bearing minerals.

Private Sector Mining: The amendments permit private sector participation in the mining of atomic minerals, including lithium, beryllium, niobium, titanium, tantalum, and zirconium.

Exclusive Auction by Central Government: The central government now has the authority to exclusively auction mining leases and composite licenses for certain critical minerals.

Exploration License: A new exploration license has been introduced for deep-seated and critical minerals to stimulate exploration activities.

These legislative changes are designed to create a more favorable legal framework for mining operations, boost exploration, and increase India’s independence in the realm of critical minerals. Additionally, these reforms are in line with India’s objectives for an energy transition and its commitment to achieving net-zero emissions by 2070.


India’s Mining Sector Reforms: A Comprehensive Overview

Enhanced Private Sector Involvement:

● Encouragement of private companies to explore and mine critical minerals.
● Attraction of global investors to India’s untapped geological potential.


Introduction of Exploration Licenses:

● Special exploration licenses for deep-seated and critical minerals.
● Aimed at drawing foreign direct investment and junior mining companies.


Revenue Allocation to State Governments:

● Central government handling of mineral concessions auctions.
● Revenue generated to support state-level development and infrastructure.


Strategic Emphasis on Critical Minerals

Economic and National Security:

● Emphasis on critical minerals due to their role in economic development and national security.
● Consistent supply of these minerals to reduce import dependency.


Supply Chain Resilience:

● Creation of a robust supply chain for critical minerals to withstand global disruptions.

Global Collaborations for Processing Technologies

International Partnerships for Technology:

●Partnerships sought with countries possessing advanced mineral processing technologies.
● Technology transfer and joint ventures to establish processing capabilities in India.


Setting Up Beneficiation Plants:

● Plans for India’s first critical mineral beneficiation and processing plant within 3-5 years.
● Enhancement of mined minerals’ value and contribution to industrial capabilities.


Alignment with Sustainable Development Goals

Energy Security and Economic Growth:

● Strategic approach to secure critical minerals for energy security and economic growth.
● Support for the manufacturing of batteries for EVs and energy storage.


Commitment to Environmental Sustainability:

● Reforms aligned with India’s carbon footprint reduction and net-zero emissions target by 2070.
● Development of environmentally friendly technologies and industries.


List of 30 Critical Minerals

The 30 critical minerals identified by India include:

Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, Platinum Group Elements, Phosphorous, Potash, Rare Earth Elements, Rhenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, Zirconium, Selenium, and Cadmium.

This detailed breakdown provides insight into the multifaceted approach India is taking to reform its mining sector, secure critical mineral supplies, and foster sustainable development. The integration of policy reforms with international technology partnerships underscores India’s proactive stance in becoming a leading player in the global transition to a greener economy.




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