Mining Industry in India
India possesses a rich wealth of mineral resources and is at present producing 84 different minerals. The coal resources in India have been estimated to be a cumulative total of 253.30 billion tonnes as on January 1, 2006. However, in the private sector, only private companies that are engaged in the production of iron and steel, cement, generation of power and washing of coal obtained from a mine are currently qualified to carry on coal mining operation in India.
The Ministry of Mines and the Ministry of Coal are the nodal ministries of Government of India for mines and coal sectors respectively. FDI up to 100% is permissible through automatic route for exploration and exploitation of all non-fuel and non-atomic minerals and for processing of minerals and metallurgy. FDI up to 74% is permitted through FIPB for atomic minerals. FDI up to 100% is permissible through automatic route for coal and lignite mines for captive consumption by power projects, iron and steel, cement project and other eligible activities permitted under the Coal Mines (Nationalization) Act, 1973. The compendium of mining sectoral laws includes Mines and Minerals (Development & Regulation) Act 1957, Offshore Areas Mineral (Development and Regulation) Act, 2002, the Coal Mines (Nationalisation) Act, 1973, Coal Bearing Areas Acquisition & Development Act , 1957, the Coking Coal Mines (Nationalisation) Act, 1972, Coal Mines (Conservation & Development) Act, 1974, and the Coal India (Regulation of Transfers and Validation) Act, 2000.
CLG Mining Practice
CLG offers clients a sophisticated and diverse mining law practice, encompassing both transactional and regulatory matters. CLG is experienced in work involving private and public sector companies in India, foreign companies based in USA and Asian countries. CLG’s mining practice lawyers and consultants work jointly to provide strategic advice on different ventures in the mining sector.
- CLG has assisted clients with negotiating, drafting and vetting -
- MOU for joint venture for coal mining projects
- Joint venture agreements for coal mining
- Coal import and marketing agreements
- Long term coal supply agreements
- Legal opinion on joint ventures in the mining sector
- Represented Clients before Courts of Law and Dispute Resolution Bodies
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