Raje offers breather to mine lease holders
Chief minister Vasundhara Raje gave a big relief to the state’s mine lease holders by reducing dead rent or license fee of performance security of mining lease and quarry licenses from 100% to 50%.
The move will benefit thousands of mine lease holders in the state.
On her directions, the mines department with an objective to promote mining industry amended and simplified the Rajasthan Minor Mineral Concession Rule, 2017 (new rule).
Now, letter of intent (LoI) holders and approved holders in form of premium during the lease period will have to pay 2.5 times of premium dead rent or license fee once in the first year.
Prior to the amendment, the lease holders had to pay this premium every year for the lease duration of 50 years, hence looking into the problems of mine lease holders, this premium amount has been reduced and provided them respite.
According to the new amendment, the schedule dead rent will be applicable on the newly approved mines and all existing mine lease holders will have to pay the dead rent as per old rate till August 31, 2017, and it will be amended from September 1, 2017.
New dead rent which will be double of the old dead rent or according to the schedule rate, whichever will be low will be applicable.
As per the rule 2017, the mine lease holder had to pay the dead rent annually in advance, while after the amendment, it can be paid quarterly.