National Mineral Policy 2019 approved by Govt., of India

Key proposals of the National Mineral Policy 2019

 Proposes to increase the production of major minerals by 200 per cent in seven years, and reduce trade deficit in
mineral sector by 50 per cent in seven years.

 Aims to attract private investment through incentives like financial package, right of first refusal at the time of
auction etc. or any other appropriate incentive according to international practices.

 Introduces the concept of Exclusive Mining Zones which will come with in-principle statutory clearances for
grant of mining lease.

 Emaphasises on simplifying the clearance process and making it time-bound for mineral development and commencement of mining operations.

 Proposes to identify critically fragile ecosystems and declare such areas as “no-go areas”/ “inviolate areas”.

 Encourages merger and acquisition of mining entities, and transfer of mining leases that have been granted in a
transparent manner to ensure seamless supply of ores and scaling up of business.

 Focuses on a long term export-import policy for the mineral sector to provide stability for investing in large
scale commercial mining activity.

 Proposes harmonising royalty and all other levies and taxes with mining jurisdiction across the world.

 Emphasises on ensuring welfare of mining-affected people / communities and ensuring rehabilitation and resettlement, by suitable implementation of all relevant Acts / Rules.

 Introduces the concept of Inter-Generational Equity in mineral resource exploitation.

Proposes development of an over-arching inter-ministerial body, under the aegis of the Ministry of Mines, to institutionalise mechanisms of sustainable mining. The body will also advise the Government on rates of royalty, dead rent etc

 

NMP 12-03-2019

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