The government approved amendments in mining and minerals ACT :: IndiaNivesh, link

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The government approved amendments in mining and minerals development
and regulation (MMDR) act through the ordinance route, paving the way for
auction of minerals such as iron ore, bauxite and limestone.
 To fast-track over 60,000 pending applications with state governments, the
ordinance expanded the area for mineral leases from 10 sq kilometres to 100
sq kilometres to facilitate large-scale mining. Further, mines would be
auctioned for 50 years with no further clause for renewal. They would be reauctioned
after 50 years.
 The ordinance, however, introduces some contentious clauses in the Act that
sets different rules for public and private sector mining companies and
between captive and non-captive mining firms. For existing mining leases,
the moratorium for captive mining firms is 15 years while for non-captive
firms it is 5 years.
 While iron ore, limestone and bauxite are predominantly mined to feed
industries such as iron and steel, cement and aluminium respectively, rest of
the 80 minerals regulated under the Act are mined independently.
Our take
This is positive for mining industry as a whole. In order to removing bottlenecks
that are preventing the industry it looks pretty imminent that the government has
introduced competitive bidding for allocation of block to corporate to ramp up the
production of minerals. The new move is likely to help in faster development of
blocks that will lead to ramp up of minerals production in the country. Minerals and
Mining intensive industries would be happy with the move as it would create a
level playing field for all the players. This will limit the monopoly of few companies
over mining resources and also help discover the true prices of crucial natural
resources of the country. Among our coverage universe, beneficiaries companies
would be JSPL, GPIL and Sesa Sterlite.

LINK
http://www.indianivesh.in/Admin/Upload/635563011692047500_NiveshDaily%20-%206%20January%202015.pdf