TABJ - July 8 - India’s heavily regulated mining industry can be tricky; an assault course lined with red tape, long bouts of waiting for the approvals process to drag through and all manner of requirements to navigate—but not for much longer if a newly draft aimed at garnering more investment takes hold.

Announced Thursday, the draft has been in limbo for a couple of years, and marks a highly-anticipated step for those with an eye to starting up operations in the nation.

According to Mines Minister Dinsha Patel, speaking to press, the draft will now make its way to cabinet for review and approval, “at the earliest,” before being shuffled onto parliament for finalisation.

Forest and Environment Minister Jairam Ramesh spoke more about the terms contained within it, and said that on the matter of people displacement, coal miners would be expected to pay for the welfare of those affected. In doing so, this would essentially equate to committing 26 per cent of their profits to welfare upkeep— not an amount equal to their royalties—he says, however the distinction made between those in coal and the wider industry is not yet clear.

These changes aim to ensure smoother-running of land package acquisitions on the part of interested miners, while safeguarding the lives and interests of parties affected in the process.