The Ministry of Mines on October 12, 2023, amended the Schedule related to rates of royalty under the Mines and Minerals (Development and Regulation) Act, 1957.
The following amendments have been stated:
• After item 28, which states “Manganese Ore” and the entries relating thereto, the following item and entries have been inserted, namely:
“28A Lithium: 3% of London Metal Exchange price chargeable on the Lithium metal in the ore produced.”
• After item 38, which states ”Sand for Stowing” and the entries relating thereto, the following item and entries have been inserted, namely:
“38A Rare Earth Elements (produced from ores other than Monazite occurring in beach sand minerals): 1% of the average sale price of Rare Earth Oxide (REO) chargeable on the Rare Earth Oxide contained in the ore produced.”
[Notification No G.S.R. 736(E)]
