Many mines are likely to be closed after March 31, 2020, the expiry date of the non-captive leases, as the mining industry is now subject to considerable stress on account of hefty penalty imposed on them following the Supreme Court’s decision.
Several experts viewed this at a workshop organised by the Society of Geoscientists and Allied Technologists (SGAT) here on Sunday.
Organisations like Geological Survey of India, Oil and Natural Gas Corporation, Steel and Mines Department, Odisha Mining Corporation, Tata Steel, Tata Sponge Iron, Hindalco Industries, Jindal Steel and Power, Essel Mining and Industries, Rungta Mines, Vedanta, OCL India, MGM Minerals and SNM Group participated in the workshop, among others.
Various companies and mining law consultant RN Sahu presented papers on the mining scenario in the country post MMDR Amendment Act.
They viewed that amendment to MMDR Act in 2015 is a watershed in the mineral administration and development of the country, beneficial and retrograde.
The post amendment regime has attracted the attention and scrutiny of the Judiciary and Judgements delivered which are subject to introspection.