The State government, which has strongly favoured establishment of a Special Purpose Vehicle (SPV) for rejuvenating areas devastated by illegal mining, has found that mining lessees have made windfall profits with little investment and with negligible concern for sustainability.
The government is in favour of retaining a higher portion of the revenue earned by the lessees so that it could finance infrastructure and environment projects in districts of Bellary, Chitradruga and Tumkur. In its interlocutory application before the Supreme Court this month, Karnataka has presented how mining lease holders have made supernormal profits without investing much funds. The next hearing of the case is scheduled on January 8.
Technology Partners: MimirTech
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/mining-lessees-made-huge-profit-govt
[2] http://admin.indiaenvironmentportal.org.in/category/newspaper/deccan-herald-bangalore
[3] http://admin.indiaenvironmentportal.org.in/category/thesaurus/karnataka
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/bellary-d
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/chitradurga-d
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/tumkur-d
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/mining
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/central-empowered-committee-cec
[9] http://admin.indiaenvironmentportal.org.in/category/thesaurus/national-mineral-development-corporation-nmdc
[10] http://admin.indiaenvironmentportal.org.in/category/thesaurus/supreme-court
[11] http://admin.indiaenvironmentportal.org.in/thesaurus/corporate-legal-accountability
