New committee to learn mining law; draft presented

THIRUVANANTHAPURAM: To study the traditional practice of measuring soil and rocks, fixing price tags, and the mining rules of old times, the government formed a committee involving ministers of finance, revenue, and labor. Rocks, soil, and granite will be considered and the seigniorage, royalty, and scientific measurement methods will be studied by the newly appointed committee.

However, the agenda and the backdrop of the new scheme were unknown to the ministers who called for more time for studying the matters mentioned. The popular opinion insisted on more time to study the process since these are areas that can quickly garner news and controversy. Meanwhile, as the financial year, is around the corner, the new Mining laws should be in effect from April 1. So, approval is required for which the committee was formed.

The draft bill about the new mining laws was put forward by the labor minister in the meeting. The new law says about reforming the royalty of minor minerals every three years. However, the royalty has been intact and has not changed since the year 2015.