Odisha bags Rs 800cr from mines deeds
Bhubaneswar: The State exchequer which witnessed a 21% fall in revenue from mining sector last year, received Rs 800 crore in the beginning of current financial year from execution of supplementary lease deeds.
The revenue, which the State government raked in from 17 mines lease holders is expected to increase once it completes the agreement with the remaining 12 lessees to run the mines, officials said.
The steel and mines department hopes that lease deeds for the balance mines will be signed within the stipulated period of three months.
Among the mine owners who have signed the lease deeds to restart operations of their mines are KJS Ahluwalia, KN Ram and Co, KP Enterprises, Rungta Mines, Odisha Manganese & Minerals Ltd (OMM), Tata Steel and Aryan Mining & Trading Corporation Ltd (AMTC).
Meanwhile, since the Supreme Court is yet to hear the cases of some mines, involved in excess mining and violation of Forest and Environment Act as reported by Shah Commission, the State government in the lease agreement has clarified that it will go with the direction of the apex court.