Section 5 of MMDR : Section 5: Restrictions On The Grant Of Prospecting Licences Or Mining Leases
MMDR
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Explanation using Example
Imagine a company, "X-tract Minerals Pvt. Ltd.," wants to explore and mine a particular mineral in the state of Rajasthan. To do so, they need to obtain a prospecting licence or a mining lease from the Rajasthan State Government. Here's how Section 5 of The Mines and Minerals (Development and Regulation) Act, 1957 would apply:
- Firstly, the company must be an Indian entity as defined under the Companies Act, 2013, which it is.
- Secondly, the company needs to meet certain prescribed conditions which could include environmental regulations, financial commitments, and technical expertise.
- If the mineral they wish to mine is listed...
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