On November 02, 2021, the Ministry of Mines has issued the Mineral (Auction) Third Amendment Rules, 2021 to further amend the Mineral (Auction) rules 2015.
Key highlights:
- In Rule 6, which specifies Eligibility of Mining Lease, in sub-rule (3) the following Explanation has been Inserted, namely:
“Explanation.— This sub-rule shall be applicable in all cases of auction, notwithstanding any order or direction to the contrary, passed by any court or authority, prior to the commencement of the Mines and Minerals (Development and Regulation) Amendment Act, 2021.”
- In rule 6, which specifies Eligibility of Mining Lease, in sub-rule (4) the following Explanation has been inserted, namely:
“Explanation.— This sub-rule shall be applicable in all leases where mineral is required to be used for captive consumption, notwithstanding any order or direction to the contrary, passed by any court or authority, prior to the commencement of the Mines and Minerals (Development and Regulation) Amendment Act, 2021.”
- Rule 14, which specifies Payment of Interest has been substituted:
Payment of Interest.—The State Government shall charge simple interest at the rate of Twelve percent per annum on any payment due to State Government under these rules the payment of which is delayed beyond the due date thereof.