The Centre is set to review the National Mineral Policy, 2019, to align it with evolving sector demands, focusing on key priorities such as critical minerals, recycling, and deep-sea resources, according to sources.
The Mines Ministry has decided to constitute a panel to undertake a comprehensive review of the policy in the light of recent developments and emerging requirements, the sources said.
The nine-member committee will be chaired by the Additional Secretary in the Mines Ministry, they said.
The panel has been tasked with reviewing the National Mineral Policy, 2019, in view of developments in the mineral sector since its formulation, identifying provisions that need modification, and recommending a comprehensive revision of the policy.
It has been asked to submit its recommendations within two months of its constitution, sources said.
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The National Mineral Policy, 2019, was approved by the Union Cabinet chaired by Prime Minister Narendra Modi. It was aimed at ensuring more effective regulation and sustainable development of the mining sector, and addressing the concerns of project-affected persons, particularly those living in tribal areas.
The policy sought to create a more effective, meaningful and implementable framework by bringing in greater transparency, better regulation and enforcement, balanced social and economic growth, and sustainable mining practices.
It also included provisions to boost the mining sector, such as measures to encourage exploration, attract private investment, promote ease of doing business and ensure scientific and sustainable mining.
B K Bhatia, mining industry expert and former Director General of the Federation of Indian Mineral Industries (FIMI), said that the revision of the National Mineral Policy, 2019, has become imperative in view of significant changes in the mineral sector, the emerging strategic importance of critical and strategic minerals, and the Mines Ministry's initiative to review and recast the MMDR Act, 1957.
"The revised policy should provide a forward-looking framework for unlocking India's mineral potential, attracting investment and advanced technologies, strengthening mineral security and enhancing the contribution of the mining sector to the national economy," he said.
Pankaj Satija, Co-Chair of the FICCI Mining Committee, said the National Mineral Policy dates back to 2019 and is under continuous evolution due to its importance in nation-building.
"A lot has changed since then. Mining jurisdictions across the world have revised their policies around national priorities, supply-chain resilience, value addition within the country and sustainable development," he said.
India, too, has moved forward through progressive initiatives, including amendments to the mining law and the introduction of the National Critical Mineral Mission.
"A fresh look at the mineral policy would be timely to bring it in line with these reforms and the country's needs in critical minerals, exploration and responsible mining. Industry would welcome the opportunity to contribute to such a review," he said.