Civil society is happy now that the government is all set to pass a Bill that ensures mining companies have to share 26% of their profits with tribals and others living in the lands their mines are in. Now that the tribals are not going to be shortchanged any more, perhaps the troubles associated with mining will reduce dramatically, though environment clearances will still be required of course.

Ranchi, Sept. 19: Existing and prospective industry and mining players of Jharkhand are apprehensive about the draft mining bill, which seeks to make them share 26 per cent of profits with locals. A group of ministers (GoM) approved the draft bill on September 17.

Speaking to The Telegraph, Jindal Steel & Power Limited

The Centre will soon bring an ordinance to establish a National Mines Regulatory Authority of India that will be empowered to investigate and prosecute cases of illegal mining.

Chief economic advisor in the finance ministry Kaushik Basu sees the need for a national super-regulator for natural resources like coal, iron ore, bauxite, copper ore and other minerals.

The Mines and Mineral Development & Regulation (Amendment) Bill which seeks to balance the demand from companies to quicken the pace of approvals for mining projects and a social commitment to provide the displaced a share of the profits was cleared by a cabinet committee on Friday. Mines minister BK Handique told reporters that it is "largely approved.

As much as 26% equity in mines would be disbursed to those displaced by mining activity as the group of ministers deliberating on the draft Mines and Mineral (Development) and Regulation Bill (MMDR) approved of it on Friday.

The GoM has suggested that the ministry move an Ordinance for setting up a regulatory authority in the Cabinet soon.

The Group of Ministers (GoM), headed by Union Finance Minister Pranab Mukherjee, on Friday approved the new Mining Draft Bill, including the provision that mining companies share 26 per cent of profits with local people affected by their projects. This could pave the way for the historic legislation.

SHILLONG: The KHADC Executive Committee (EC) has constituted a special panel to study the proposed State Mining Policy and Meghalaya Community Participation Bill, 2010.

Talking to reporters after the Executive C meeting here on Monday, the KHADC CEM Pynshngai

SHILLONG: Deputy Chief Minister in-charge Mining Bindo M Lanong on Tuesday sought to allay apprehension that Mining Policy draft is to facilitate uranium mining in the State. "Uranium mining is in the domain of the Central Government and it has no link with the draft of Mining Policy," the minister said after the first meeting with various stakeholders before finalizing the draft.

SHILLONG, Sept 13: Meghalaya Deputy Chief Minister Bindo M Lanong, who is holding the Mining portfolio, today said that the Mining Policy, 2010 would be announced within this month. He said this after holding a meeting of all the stake holders where the draft mining policy, including uranium mining, was presented.

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