Saturday, 27 Aug 2011
Mr Dinsha Patel minister of state for mines informed the Lok Sabha that there is no classification of minerals as non-prime minerals in the Mines and Minerals (Development and Regulation) Act 1957 (MMDR Act) and Rules framed there under.
However, Section 9 of the MMDR Act provides that a mining lease holder shall pay royalty in respect of any mineral removed or consumed from the leased area at the rate for the time being specified in the Second Schedule of the MMDR Act and the royalty rates of minerals may be revised upwards only once in three years. During the last ten years, the royalty rates in respect of major minerals (other than coal, lignite and sand for stowing), have been revised in the years 2000, 2004 and 2009.
Mr Dinsha Patel minister of state for mines informed the Lok Sabha that there is no classification of minerals as non-prime minerals in the Mines and Minerals (Development and Regulation) Act 1957 (MMDR Act) and Rules framed there under.
However, Section 9 of the MMDR Act provides that a mining lease holder shall pay royalty in respect of any mineral removed or consumed from the leased area at the rate for the time being specified in the Second Schedule of the MMDR Act and the royalty rates of minerals may be revised upwards only once in three years. During the last ten years, the royalty rates in respect of major minerals (other than coal, lignite and sand for stowing), have been revised in the years 2000, 2004 and 2009.
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