Parliament gave its seal of approval to the Mines and Minerals (Development and Regulation) Amendment Bill, 2016 with the Rajya Sabha adopting it today. The bill has already been passed by the Lok Sabha. The Bill provides for transfer of mining leases, which have been granted through procedures other than auction and where minerals are used for captive purpose.<br/><br/>This provision will allow for merger and acquisition of companies with captive mining leases. The bill adds the definition of leased area as the area within which mining operations can be undertaken. This will also include the non-mineralised area required and approved for the activities defined under Mines Act 1952.

Parliament gave its seal of approval to the Mines and Minerals (Development and Regulation) Amendment Bill, 2016 with the Rajya Sabha adopting it today. The bill has already been passed by the Lok Sabha. The Bill provides for transfer of mining leases, which have been granted through procedures other than auction and where minerals are used for captive purpose.<br/><br/>This provision will allow for merger and acquisition of companies with captive mining leases. The bill adds the definition of leased area as the area within which mining operations can be undertaken. This will also include the non-mineralised area required and approved for the activities defined under Mines Act 1952.