PANJIM: The leases of 89 operational mines, working on deemed leases would be renewed by end of May with State Government in process of imposing revised rates of Stamp Duty.

A stamp duty of Rs 1 lakh per hectare is likely to be imposed on the mines for renewal. As per the Mines and Minerals Regulation Development (MMRD) Act, which is under amendment, States have the power to increase stamp duty on mining leases if the royalty payments exceed the levels assumed at the time of the lease.

The illegal mining scam has not deterred mining companies from making a beeline for Karnataka. Over 19,000 applications seeking permission to excavate ore in the State are pending with the government.

Data compiled by the Union Ministry of Mines shows that of the 42,535 pending applications seeking permission for mining in various mineral-rich states in the country, (as on April 19), more than 45 per cent (19,351) of them are pending in Karnataka alone — the highest in the country.

Mines minister Dinsha Patel on Wednesday refused to entertain the Odisha government’s demand for imposing a mineral resource tax on the lines of Australia and also questioned the state’s Chief Mini

Following the Supreme Court warning that the first-come-first-serve system for granting mineral concessions may be misused “by unscrupulous people,” the mines ministry has sought legal opinion on h

Pending applications surge across categories, in breach of rules for disposal

The central government, in a bid to bring in transparency and accountability in the mining sector, has asked states to scrupulously ensure timely renewal of leases as prescribed under Rule 24A of the Minerals Concession Rules (MCR).

PANJIM: Goa will have its own mining policy by May but the decision on whether to work on the draft policy or have a fresh document is yet to be taken by the government.

The State already has a draft policy which was formed in the year 2008 and pending notification. The policy was drafted much earlier to the noise about illegal mining trade in the State.

The mines ministry has shot down the steel ministry’s proposal that iron ore should be classified as “ a strategic mineral”.

BHUBANESWAR: The Ministry of Mines has taken exception to a large number of applications pending for mineral concession and renewal of mining leases with the State Government.

The Centre has expressed disagreement with Rajasthan government's mineral policy that reserves mineral-bearing areas in favour of State undertaking Rajasthan State Mines and Minerals (RSMML).