Govt to charge premium for transfer of mining rights

NEW DELHI: The government has said a company acquiring mining rights from another firm will be charged 80% of royalty as premium if the acreage was originally obtained

NEW DELHI: The government has said a company acquiring mining rights from another firm will be charged 80% of royalty as premium if the acreage was originally obtained without bidding. The charge will be on top of royalty that the new mining lease holder will pay to the state. “When a mine is auctioned an extra premium has to be paid on royalty. This premium has been imposed using the same analogy,” mines secretary Balvinder Kumar said.

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