NATIONAL MINERAL POLICY, 2019

About the Policy: 

• Objective: To have a more effective policy that brings in further transparency, better regulation and enforcement, balanced social and economic growth as well as sustainable mining practices.
  
  
• Salient Features: It includes provisions which will give boost to mining sector such as – 
  • Proposes to grant status of industry to mining activity to boost financing of mining for private sector and for acquisitions of mineral assets in other countries by private sector, 
    
    
  • introduction of Right of First Refusal for RP/PL holders, 
    
    
  • auctioning in virgin areas for composite RP cum PL cum ML on revenue share basis, 
    
    
  • encouragement of merger and acquisition of mining entities, 
    
    
  • making efforts to harmonize taxes, levies & royalty with world benchmarks to help private sector, 
    
    
  • transfer of mining leases and creation of dedicated mineral corridors to boost private sector mining areas, 
    
    
  • Focusses on use coastal waterways and inland shipping for evacuation and transportation of minerals and encourages dedicated mineral corridors to facilitate the transportation of minerals, 
    
    
  • Proposes a long term export import policy for the mineral sector to provide stability and as an incentive for investing in large scale commercial mining activity,  
    
    
  • utilization of the district mineral fund for equitable development of project affected persons and areas; introduces the concept of Inter-Generational Equity that deals with the well-being not only of the present generation but also of the generations to come and
    
    
  • Proposes to constitute an inter-ministerial body to institutionalize the mechanism for ensuring sustainable development in mining. 
    
    
  
  
  
• Benefits: The New National Mineral Policy will ensure more effective regulation. It will lead to sustainable mining sector development in future while addressing the issues of project affected persons especially those residing in tribal areas.