India: Govt to allow captive mines to sell 50% of annual production in open market

The Ministry of Mines has proposed to amend the MMDR Act to allow lessees of captive mines to sell up to 50% of minerals excavated during the year. An additional amount will be charged by the government on all such sale. From the non-auctioned captive mines, the additional amount due to the government from sale of chromite (40% and more of Cr2O3 and concentrates) shall be 2 times that of royalty, while for manganese (above 35% manganese content) the amount payable will be 5 times that of royalty.


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *