NEW DELHI: The Centre is set to review the National Mineral Policy, 2019, to align it with evolving sector demands, focusing on critical minerals, recycling and deep-sea resources, according to sources cited by PTI.

The Mines Ministry has decided to constitute a panel to undertake a comprehensive review of the policy in 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 and has been asked to submit its recommendations within two months of its constitution. The panel will identify provisions that need modification and recommend a comprehensive revision.

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. It also included provisions to encourage exploration, attract private investment, promote ease of doing business and ensure scientific and sustainable mining.

Industry voices welcomed a fresh look. B. K. Bhatia, mining industry expert and former Director General of the Federation of Indian Mineral Industries (FIMI), said revision had become imperative in view of significant changes in the sector, the emerging strategic importance of critical and strategic minerals, and the ministry's initiative to review and recast the MMDR Act, 1957. Pankaj Satija, Co-Chair of the FICCI Mining Committee, said a fresh look would be timely to bring the policy in line with reforms and the country's needs in critical minerals, exploration and responsible mining, The Hindu BusinessLine reported.

Sources: PTI via The Hindu BusinessLine; Orbit Prime News (PTI syndication).