Coal India receives Composite Licence for Grant of Mineral Concession through Ministry of Mines

New Delhi: India’s Largest Coal Producing PSU, Coal India Ltd has announced that it has been granted a Composite Licence for Grant of Mineral Concession by Ministry of Mines, Government of India.

In an exchange filing, it is mentioned that the Composite License for Grant of Mineral Concession has been awarded to CIL by Ministry of Mines, Government of India.

The significant terms of the order are according to the Mines and Minerals (Development and Regulation) Act, 1957 as amended from time to time.

Further, it is also mentioned that Mining Lease deed to be executed by State Government. Holder of Composite License to become holder of Mining Lease in 5 years.

Mineral Concession Rules in India are governed by the Mineral Concession Rules, 1960 and outlines the procedures, terms, and conditions for obtaining and managing mining rights, including permits for reconnaissance, prospecting licenses, and mining leases, requiring applications with fees, geological reports, income tax compliance, and government approvals for transfer, with specific regulations for atomic minerals and state-level variations.