5 months ago
1
The Mines & Geology Department has reportedly issued a announcement to the ACC Ltd. (a cement manufacturing institution of the Adani Group), asking wherefore the limestone leases granted to it successful 2019-24, successful purported usurpation of norms laid down by the Central government, should not beryllium cancelled.
The section is learnt to beryllium successful the process of issuing akin notices to 2 different companies — Bharathi Cement Corporation Limited (BCCL) and Ramco Cements Limited. The ACC Limited has been fixed 2 weeks clip to record its reply.
The said lease agreements came nether caller scrutiny by the conjugation authorities aft the Ministry of Mines precocious objected to the assistance of leases done the exertion route, alternatively of the prescribed auction mechanism.
According to authoritative sources, assistance of leases done auction strategy was mandatory arsenic portion of large reforms contained successful the Mines and Minerals (Development and Regulation) Amendment Act of 2021.
The State authorities volition determine its people of enactment depending connected the mentation tendered by these companies. Both the ACC Ltd. and BCCL got leases successful Kadapa district, whereas Ramco Cements secured leases successful NTR district.
