Revised process for obtaining, extending and executing mineral exploration license

Mineral (Auction) Amendment Rules, 2024 provides that a bidder shall submit only one bid in an auction of a mineral block and no affiliate of a bidder shall submit a bid in the same auction where such bidder has submitted bid. “Affiliate” with respect to a bidder shall mean a person who, (a) controls such bidder, (b) is controlled by such bidder, (c) is under common control with such bidder, (d) is an associate company of the bidder, or (e) is a subsidiary company of such bidder.

Minerals (Evidence of Mineral Contents) Amendment Rules, 2024

The amendment provides that respect of any mineral specified in Part D of the First Schedule to the Act, in order to identify mineral potentiality of a block based on the available geoscience data where resources are yet to be established, including in any block proposed by any person, the Central Government shall place it before a committee.

Biological Diversity (Amendment) Act, 2023 shall commence by 01.04.2024

The amendment provides that any person or entity applying for an intellectual property right, by whatever name called, for any invention based on any research or information on a biological resource which is accessed from India, including those deposited in repositories outside India, or traditional knowledge associated thereto, shall obtain prior
approval of the National Biodiversity Authority before grant of such intellectual property rights.