The central government has revised the process for obtaining, extending and executing mineral exploration license by amendment of existing laws:
- Mineral (Auction) Amendment Rules, 2024 provides that a bidder shall submit only one bid in an auction of a mineral block and no affiliate of a bidder shall submit a bid in the same auction where such bidder has submitted bid. “Affiliate” with respect to a bidder shall mean a person who, (a) controls such bidder, (b) is controlled by such bidder, (c) is under common control with such bidder, (d) is an associate company of the bidder, or (e) is a subsidiary company of such bidder.
- Mineral Conservation and Development (Amendment) Rules, 2024 provides that every holder of a reconnaissance permit or prospecting license or the preferred bidder selected for grant of composite licence or exploration licence, shall submit to the Controller General or the authorised officer a scheme of reconnaissance or prospecting or both, as the case may be, within a period of ninety days from the date of execution of the permit or licence or issuance of letter of intent, indicating the manner in which he proposes to carry out the reconnaissance or prospecting operations or both in the area covered under the permit or licence. In case of exploration licence, a modified scheme of reconnaissance or prospecting or both shall be submitted to the Controller General or the authorised officer after three years from the date of execution of the licence, indicating the manner in which the licencee proposes to continue the reconnaissance and prospecting operations in the area retained under the licence.
- Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Amendment Rules, 2024 provides that an application for extension of an exploration licence for the purpose of completing reconnaissance or prospecting operations or both shall be made after three years from the date of its execution but at least ninety days before the expiry of the licence and shall be accompanied by a statement.
