Tag: Ministry of Mines

India: Mines Ministry proposes new formula to address double calculation of royalty

May 30, 2022

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Admin Operation

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In an important recent announcement, the Union Ministry of Mines has proposed to amend relevant sections of the Mines and Minerals (Development & Regulation) Act, 1957 (MMDR Act) to change the calculation methodology of the average sales price (ASP) of minerals to address the problem of ‘royalty on royalty’ which is imposing additional financial burden…