(2) Where the State Government, after consultation with the Central Government, is of opinion that it is expedient in the interest of regulation of mines and mineral development, preservation of natural environment, control of floods, prevention of pollution or to avoid danger to public health or communications or to ensure safety 'of buildings, 988 monuments or other structures or for such other purposes, as the State Government may deem fit, it may, by an order, in respect of any minor mineral, make premature termination of a prospecting licence or mining lease with respect to the area or any part thereof covered by such licence or lease: Provided that the State Government may, after the premature termination of a prospecting licence or mining lease under sub section (1) or sub section (2), as the case may be, grant a prospecting licenee or mining lease in favour of such Government company or corporation owned or controlled by Government as it may think fit. '(3) No order making a premature termination of a prospect ing licence or mining lease shall be made except after giving the holder of the licence or lease a reasonable opportunity of being heard.