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New norms for transfer of mines

New norms for transfer of mines

Parliament has cleared amendments to the MMDR Act to enable transfer of previously allotted captive non-coal mines. Acquisition of Jaiprakash Associates cement assets in MP by UltraTech Cement and sale of Lafarge´s two cement plants by Birla Corp have been stuck as the attached limestone mines cannot change hands. The Act, amended in March last year, barred transfer of mining leases of allotted mines.

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