India updates mining rules to ease expansion under Atmanirbhar Bharat
Business
India just updated its mining rules, making it easier for companies to expand their mining areas.
This move is part of the Atmanirbhar Bharat push, aiming to strengthen the country's own mineral resources and help industries get what they need without relying so much on imports.
Miners allowed 10% or 30% expansion
Now, miners can add nearby land to their leases, up to 10% more for most, or 30% if they have a composite license.
If your lease was auctioned, you'll pay 10% of the auction premium on minerals from the new area; if not, you'll pay an equivalent royalty.
The update also lets companies include critical and strategic minerals or deep-seated minerals without extra fees. Plus, the process for expanding leases is now simpler and faster.