Lok Sabha passes the Mines & Minerals (Development and Regulation) Amendment Bill 2023

The Lok Sabha today, July 28 passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2023 amid the din.

The Bill amends the Mines and Minerals (Development and Regulation) Act, 1957 which regulates the mining sector.

The Bill has provisions for an exploration license. As per the Bill, the exploration license will be issued for 29 minerals which include gold, silver, copper, cobalt, nickel, lead, potash, and rock phosphate.

When the House met after the first adjournment at 12 Noon, Union Coal and Mines Minister Pralhad Joshi moved the Bill into the House. 

Replying to a brief discussion on it, the Minister described the Bill as a game changer for the mining sector. 

He said, earlier, the country was heavily dependent on the import of coal but now the scenario has changed due to increased coal production in the country. 

He expressed confidence that India may stop importing coal by the year 2025-26.