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Core Purpose

Amends Mineral (Auction) Rules, 2015, clarifying net worth consideration for subsidiary applicants based on holding company's location.

Detailed Summary

The Ministry of Mines, in exercise of powers under section 13 of the Mines and Minerals (Development and Regulation) Act, 1957, has issued the Mineral (Auction) Amendment Rules, 2025. These rules amend the Mineral (Auction) Rules, 2015, specifically in Schedule I, Explanation, clause (1). The amendment substitutes the original text to state that if an applicant is a subsidiary company, the net worth of its holding company may also be considered, and the holding company may be incorporated in India or outside India. These rules will come into force on the date of their publication in the Official Gazette. The principal rules were originally published in 2015 and last amended on January 21, 2024.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-23042025-262640 EXTRAORDINARY PART II-Section 3-Sub-section (i) PUBLISHED BY AUTHORITY No. 216] NEW DELHI, WEDNESDAY, APRIL 23, 2025/VAISAKHA 3, 1947 2707 GI/2025 MINISTRY OF MINES NOTIFICATION New Delhi, the 23rd April, 2025 G.S.R. 255(E). — In exercise of the powers conferred by section 13 of the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957), the Central Government hereby makes the following rules further to amend the Mineral (Auction) Rules, 2015, namely:— 1. (1) These rules may be called the Mineral (Auction) Amendment Rules, 2025. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Mineral (Auction) Rules, 2015, in Schedule I, in the Explanation, in clause (1), for the portion beginning with the words “an applicant is a subsidiary" and ending with the words “company may also be considered", the words “an applicant is a subsidiary company, the net worth of the holding company of such subsidiary company may also be considered and the holding company may be incorporated in India or outside India" shall be substituted. [F. No. M.VI-1/2/2025-Mines VI] DINESH MAHUR, Jt. Secy. Note.— The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (i), vide number G.S.R. 406(E), dated the 20th May, 2015 and lastly amended, vide number G.S.R. 49(E), dated the 21st January, 2024.

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