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.