Mines and Mineral Development Bill, 2011 in Parliament soon

Mines and Mineral Development Bill, 2011 will come up for approval of Parliament soon. The passage of the Bill will ensure speedy clearance to extract minerals.

In an exclusive interview to AIR correspondent, the Mines Minister Dinsha Patel said that the Bill requires Coal Mine companies to share 26 per cent of their profits and non-coal mining companies to shell out an amount equal to the royalty to people affected by a project.

He said the Bill also seeks to tackle the problem of illegal mining. It recommends a penalty of up to 25,000 rupees per hectare or two years imprisonment or both for those engaging in illegal mining.