New Delhi, Aug 20 (SocialNews.XYZ) Steel Authority of India Limited (SAIL) on Thursday welcomed the Mines and Minerals (Development and Regulation) Amendment Act, 2026, notified by the Central Government on August 17, saying the reform will bring greater predictability to the fiscal regime and provide long-term policy certainty to the mineral sector.
SAIL said the amendment provides greater clarity and uniformity in mineral taxation and levies while addressing pending retrospective levies.
The move is expected to provide greater certainty and confidence to the mining industry and encourage investment in the sector.
"It also addresses pending retrospective levies, thereby providing greater certainty and confidence to the mining industry," it said.
For SAIL, which operates substantial captive iron ore and coal mines, the reform is expected to improve the viability of its mining operations and facilitate investment and development of mines.
The company said greater predictability in the fiscal regime would support efficient utilisation of its mineral resources and strengthen long-term raw-material security.
"Greater predictability in the fiscal regime will support efficient utilisation and development of SAIL’s mineral resources and will boost iron ore mining," it added.
The reform is also expected to boost iron ore mining and increase the availability of the key raw material in the domestic market.
With improved viability and development of its captive mines, SAIL said it would be able to make additional iron ore available for sale in the market, subject to the applicable regulatory framework.
According to the company, higher availability of domestically produced iron ore would strengthen domestic supply chains and support the Indian steel industry by improving access to indigenous raw materials.
SAIL said the reforms are expected to encourage higher investment and production, reduce dependence on imports, strengthen India's mineral and energy security, and improve the competitiveness of mineral-based industries.
The steel major reaffirmed its commitment to the responsible and sustainable development of its mineral resources, strengthening captive raw-material security and making greater quantities of iron ore available to the domestic market in support of the vision of an Atmanirbhar and Viksit Bharat.
Source: IANS
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