Indian government has issued list of new royalty rates for mining leases being allotted through auction route.
In exercise of the powers conferred under sub-section (3) of section 9 of the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957), the Central Government hereby make changes under the rate of royalty for respective minerals.
Iron ore-: India Govt. sets royalty on iron ore 13.5% for those whose mining lease granted through process of auction and 15% for those without auction process. This is for iron ore (Hematite) above 45% grade.
Manganese ore-: Similarly, Manganese ore for all grade rates of royalty sets for auctioned mines at 4.5% and mines without a process of auction pay 5% on avg. sales price.
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