<p>As part of its strategy to boost domestic production and push import substitution, the Centre on Wednesday opened up mining of new groups of minerals.<br /><br />The Union cabinet approved the ministry of mines proposal for amending the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR) to specify the rate of royalty for Glauconite, Potash, Emerald, Platinum Group of Metals (PGM), Andalusite, Sillimanite and Molybdenum.<br /><br />The approval will help generate empowerment opportunities in the mining sector as well as the manufacturing sector which will further help in ensuring inclusive growth of a large section of the society, a statement from the Ministry of Mines said.<br /><br />The approval would ensure the auction of mineral blocks in respect of glauconite, potash, emerald, platinum group of metals, andalusite and molybdenum thereby reducing imports of these minerals, the statement said.<br /><br />Glauconite and Potash are used as fertilizers in agriculture. Platinum group of metals and Andalusite and Molybdenum are high-value minerals used across industries.<br /><br />The rate of royalty for Andalusite, Sillimanite and Kyanite, which are mineral polymorphs, have been kept at the same level.<br /><br />The statement also said more than 146 blocks have been put up for auction in the financial year 2021-22. Of this, 34 blocks have been successfully auctioned in the financial year.<br /><br />India at present depends on imports of Glauconite/ Potash, Emerald, Platinum Group of Metals (PGM), Andalusite and Molybdenum.<br /><br />The Act was amended in 2015 to usher in a new regime of granting mineral concessions through auction to ensure transparency and non-discrimination in the allocation of the mineral wealth of the country. The auction regime has matured since then. To give further impetus to the mineral sector, the Act has been further amended in 2021, said the statement.<br /> </p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>As part of its strategy to boost domestic production and push import substitution, the Centre on Wednesday opened up mining of new groups of minerals.<br /><br />The Union cabinet approved the ministry of mines proposal for amending the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR) to specify the rate of royalty for Glauconite, Potash, Emerald, Platinum Group of Metals (PGM), Andalusite, Sillimanite and Molybdenum.<br /><br />The approval will help generate empowerment opportunities in the mining sector as well as the manufacturing sector which will further help in ensuring inclusive growth of a large section of the society, a statement from the Ministry of Mines said.<br /><br />The approval would ensure the auction of mineral blocks in respect of glauconite, potash, emerald, platinum group of metals, andalusite and molybdenum thereby reducing imports of these minerals, the statement said.<br /><br />Glauconite and Potash are used as fertilizers in agriculture. Platinum group of metals and Andalusite and Molybdenum are high-value minerals used across industries.<br /><br />The rate of royalty for Andalusite, Sillimanite and Kyanite, which are mineral polymorphs, have been kept at the same level.<br /><br />The statement also said more than 146 blocks have been put up for auction in the financial year 2021-22. Of this, 34 blocks have been successfully auctioned in the financial year.<br /><br />India at present depends on imports of Glauconite/ Potash, Emerald, Platinum Group of Metals (PGM), Andalusite and Molybdenum.<br /><br />The Act was amended in 2015 to usher in a new regime of granting mineral concessions through auction to ensure transparency and non-discrimination in the allocation of the mineral wealth of the country. The auction regime has matured since then. To give further impetus to the mineral sector, the Act has been further amended in 2021, said the statement.<br /> </p>.<p><strong>Watch the latest DH Videos here:</strong></p>
