Construction Industry News
From the look of it, the government is ready with its draft, Mines and Minerals Development and Regulation bill. An initial interpretation speaks of an extra payout by companies in the mining business. The bill proposes that coal mining companies share 26 per cent of their net profit with the affected people. And, non-coal mining companies pay an amount equivalent to the royalty, for the same purpose.
The bill will be referred to the Cabinet and then introduced in Parliament in the monsoon session.
This is good news from a long-term perspective, as the biggest issue in getting a mining licence is land acquisition and rehabilitation of the affected people. By making profit sharing mandatory, the hassles associated with starting operations should ease
3137
5333
2799
4699
7098
14199
499
799
399
799
2184
8280
325
499
1790
2166
1857
2217
3796
6699
1670
1760
390
420
2949
3400
669
1500
439
799
3495
3500
