re: Ann: Mining lease application - Aravalli ...
From the Indian Ministry of Mines website, it would be impossible for IRL not to be awarded the Aravalli Mining Licence.
Question: What is the principle of granting of mineral concessions?
Answer: The general principle followed in granting mineral concessions for minerals other than minor minerals is, other things being equal, the principle of ‘first come first serve’. However, a person who has undertaken reconnaissance operations under a RP has the preferential right for obtaining a PL, and similarly, a person who has prospected for the mineral under a PL has the preferential right for obtaining a ML.
In other cases of simultaneous applications for mining lease, the law provides that the State Government could, in a transparent manner evaluate relative merits of the applicants on objective criteria like special experience, financial resources, level of proposed investment etc. and grant mining lease accordingly.
In addition, for all minerals included in the First Schedule to the MMDR Act, 1957, approval of the Central Government should be obtained before passing any order.
However the time taken to issue such a ML or RP or PL takes far longer than that stated on the website.
Question: After applying for the mineral concession, how long does it take to know the decision?
Answer. As per MCR, 1960, the State Government should convey the decision on a mineral concession applied for as follows:
Reconnaissance Permits: 6 Months
Prospecting License : 9 Months
Mining Lease : 12 Months.
In case of delay, the State Governments are required to indicate the reasons for the delay in writing.
Also, in case the State Government does not find the application worthy of grant of the concession applied for, the law requires that the applicant should be given an opportunity of being heard before the application is rejected.
http://mines.nic.in/faq.html
IRL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held