This Act amends the Minerals Development Acts, 1940 and 1960 with respect to a variety of matters relating to the development, management and control of the mineral resources. Matters here regulate include: (a) membership of the Mining Board; (b) regulation-making powers of the Minister; (c) the exclusive right of working minerals vested in the Minister and relating exceptions; (d) registration of excepted minerals with the Mining Board; (e) the granting of licences to work State minerals and relative leases; (f) procedures relative to the working of State minerals; and (g) procedures relating to compensation payable under the Act.