Ministry of Mines amends the Mines and Minerals (Development and Regulation) Act, 1957

Sep 05, 2019 | by Avantis RegTech Legal Research Team


The Ministry of Mines on September 02, 2019, has decided to make amendments in the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957. The Second Schedule specifies the rates of royalty in respect of minerals: name of mineral with grade, rate in rupees per tone (where applicable for auctioned mines) and (where applicable for mines allotted without auction), advalorem in percentage of average sale price except where otherwise stated (for auctioned mines) and (for mines allotted without auction).

[Notification No.: G.S.R. 621(E)]

 


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