Govt working on District Mineral Foundation rules
17 April 2015 1:17 AM GMT
The Centre is in the process of formulating guidelines for District Mineral Foundation (DMF) and will decide on royalties to be paid for different minerals, Steel Minister Narendra Singh Tomar said here
on Thursday.
“Existing miners may have to pay up (to) 100 per cent of royalties to DMF under the amended Mines and Minerals Development and Regulation (MMDR) Act, while the mines that will be auctioned have to pay no more than a third of the royalties,” Tomar told reporters on the sidelines of a conference of the members of the steel industry. Currently, miners pay royalties to respective state governments depending upon the type of minerals.
However, he added that the DMF rules are still being formulated, and the Centre will decide on the royalties to be paid for different minerals. “The Central government will decide the royalties, as it is still under consideration,” the minister said. He said while these rules will be applicable to all major minerals, respective states will decide about minor minerals.
on Thursday.
“Existing miners may have to pay up (to) 100 per cent of royalties to DMF under the amended Mines and Minerals Development and Regulation (MMDR) Act, while the mines that will be auctioned have to pay no more than a third of the royalties,” Tomar told reporters on the sidelines of a conference of the members of the steel industry. Currently, miners pay royalties to respective state governments depending upon the type of minerals.
However, he added that the DMF rules are still being formulated, and the Centre will decide on the royalties to be paid for different minerals. “The Central government will decide the royalties, as it is still under consideration,” the minister said. He said while these rules will be applicable to all major minerals, respective states will decide about minor minerals.
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