ETANNUALREPORT2019-20DFT

The nature of mineral resources and the learnings from world over indicate the need for a completely different conceptualisation of the resource, how revenues from its extraction and use are apportioned for now and for the future generations and the need for strict limits to the quantum of production. [...] In the context of mining laws in the country, apart from the Mineral Concession and Mineral Conservation and Development Rules, which are fundamental to the operation, the fit and proper person test should include the ability of the company and the agency enabling the mining activity, whether of the Central or State Government to ensure that the process can be undertaken within the Sustainable Dev. [...] In the context of the financial processes in the market and for the purpose of determining as to whether an applicant or the intermediary seeking registration under any one or more of the relevant regulations is a ‘fit and proper person’. [...] Abandonment of mines (1) The holder of a mining lease shall not abandon a mine or a part of mine during the subsistence of the lease except with prior permission in writing of the authorised officer of the Indian Bureau of Mines or the State Government, as the case may be. [...] Such a notice shall be accompanied by plans and sections on a scale as specified in rule 31 of these rules setting forth accurately the work done in the mine up to the time of submission of the notice including the measures envisaged for the protection of the abandoned mine or part thereof, the approaches thereto and the environment: Provided that the authorised officer of the Indian Bureau of Min.