National Mineral Policy -2019

National Mineral Policy -2019
National Mineral Policy -2019

About National Mineral Policy -2019  :

 It is a policy  that will help to bring transparency, better regulation and enforcement, Sustainable mining practices and to balanced social and economic growth. National Mineral Policy-2019 replaces the National Mineral  Policy of 2008.

Features of NMP-2019 :-

  1. It mainly focus on Make in India initiative and Gender Sensitivity.
  2. It will encourage private sector to take up the exploration and  to harmonize taxes ,levies,royalty with world bench marks.
  3. It has also introduced Right to First Refusal for RP/PL holders.
  4. It aims to attract private investment through incentives.
  5. It also allows auctioning in the Virgin areas  for composite  RP /PL/ML on the sharing revenue basic.
  6. It also encourages the merger and aquisition of mining entities.
  7. It will boost private sector mining areas by allowing them to transfer mining leases and creation of dedicated mineral corridors.
  8. It also grant status to mining industry for their activities and will help private sector to boost their finance in mining and for acquisitions of mineral assets in other countries.
  9. It also mentions about the Long term Import Export Policy for mineral and to rationalize reserved areas given to PSUs to put those areas in auction which are not in use  so that private players can get opportunity to participate.
  10. It has also introduced the concept of  Inter-Generational Equity that deals with the well being of the present generation and the future generation too.
  11. It focusses on use coastal  waterways and Inland shipping  for transportation and evacuation of minerals.

Summary :-

  • Encourage  Private sector  to participate in the exploration activity and help them to boost their finance .
  • Auction of Virgin areas on revenue share basic for RP/PL/ML 
  • Allow transfer of mining leases
  • Long term Import-Export policy for mineral  to provide stability 
  • Increase transparency , regulation and sustainable mining practices.

No comments

Powered by Blogger.