The ministry has sought comments on five proposed amendments to the mining law, which aim to align the coal sector with current mining practices, improve investment certainty and ensure better use of resources
The development will attract bigger mining companies in the exploration arena and is likely to encourage junior mining companies from around the world to come to India and take up exploration projects with National Mineral Exploration Trust (NMET) funding.
Mines Ministry has formed an expert group to review royalty rates for all major minerals other than coal, lignite and sand, due for revision next year.