New mining bill to share profit with locals: Virbhadra Singh

New Delhi, Sep 18 (ANI): Union Steel Minister Virbhadra Singh has said that a new Mining Bill would seek to share 26 per cent of miners profits with affected local people.

A ministerial panel, headed by Finance Minister Pranab Mukherjee, reached a consensus on a draft of the bill at its meeting in New Delhi on Friday.

"All the aspects, points and provisions have been discussed in detail. I think all the points we have raised, all the concerns we have raised have been by and large addressed," said Singh.

The country has witnessed large scale protest against miners in tribal areas and central government rejected in August plans of India-focused miner Vedanta Resources Plc to go ahead with bauxite mining in Orissa due to stiff resistance from locals.

The other members of the Group of Ministers (GoM) include Home Minister P Chidambaram, Law Minister Veerappa Moily, Mines Minister B. K. Handique, Commerce Minister Anand Sharma, Tribal Affairs Minister K. Bhuria, Planning Commission Deputy Chairman Montek Singh Ahluwalia, Coal Minister Sriprakash Jaiswal and Environment Minister Jairam Ramesh.

The GoM, constituted in June to examine the Bill has so far met thrice including on July 20 and 30. (ANI)