FIMI pitches for extension of non-captive mines' leases until 2030

摘要

A mining industry body has pitched for immediate extension of leases of more than 300 non-captive mines until March 2030, expressing fear that the sector may face a crisis-like situation post expiry of licences of these mines next year. In a presentation before a high-level committee of Niti Aayog, the Federation of Indian Mineral Industries (FIMI) has said that the crisis situation in the mining industry developed following the amendment in the MMDR Act, 1957, in January 2015 that provided for auction as the sole mode of granting concessions for a fixed period of 50 years to private companies - captive and non-captive.