Question
Following the Ministry of Mines' reclassification of
Barytes, Feldspar, Mica, and Quartz as major minerals, what is the extended lease period now applicable to these minerals?Solution
The Ministry of Mines' reclassification of these minerals from minor to major status places them under the regulatory framework of the Mines and Minerals (Development and Regulation) Act of 1957. According to Section 8A of this legislation, major mineral leases extend for 50 years from the grant date or until the completion of any renewal period, whichever is later. This reclassification was recommended by the Inter-Ministerial Committee on Mines & Minerals Sector under Dr. V.K. Saraswat's chairmanship.
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