Mining Lease Fee/Royalty

By | July 25, 2016
(Last Updated On: July 25, 2016)

Mining Lease Fee/Royalty

The Minerals (Transfer of Mining Lease Granted Otherwise than through Auction for Captive Purpose) Rules, 2016 have been published in the Official Gazette vide notification No. GSR 560(E) dated 30.05.2016. The transfer charges payable by the transferee shall be an amount equal to eighty per cent. of the royalty paid in terms of Second Schedule to the Act payable for the remaining period of the transferred mining lease which was granted otherwise than through auction for captive purpose.

Output of the mining sector had fallen sharply in the year 2014-15 due to various reasons, including the closing down of several mines due to court orders, non-renewal of expired mining leases etc. The Government took remedial measures through the Mines and Minerals (Development and Regulation) Amendment Act, 2015, including the insertion of transition provisions  for extension of existing leases to obviate disruptions in supply of ore and to ensure regular supply of raw material to the industry;

As a result, the output of the mining sector, in quantity terms has registered a significant increase in the year 2015-16. The following table gives the increase in output of the major minerals produced in the country in year 2015-16 compared to the production achieved in 2014-15.

 

  Quantity (Unit in tonnes) 
Sr. No.Minerals2014-152015-16Percentage(%) increase
1Iron ore12891000015581000021
2Bauxite222260622812628827
3Chromite2163942288114833
4Copper conc.10754114018030
5.Lead Conc.19766826185832

This information was given by the Minister of State (IC) in the Ministry of Mines, Power, Coal and New & Renewable Energy Shri Piyush Goyal in reply to a question in Lok Sabha today.

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