Ministry of Mines invites comments / suggestions on formulation of National Mineral Index for various minerals

Jul 22, 2021 | by Avantis RegTech Legal Research Team

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Labour Compliance

The Ministry of Mines on July 20, 2021 has examine the double calculation of royalty due to inclusion of royalty in calculation of ASP of minerals and developing a National Mineral Index for valuation of mineral resources as well as for determination of value for auction.  The terms of Reference (ToR) of the committee are as under: -

i. To examine the incidence of double calculation of royalty

ii. To examine issues and shortcoming in fixation of ASP currently being done and suggest measures to overcome these till NMI is formulated for individual’s minerals. 

iii. To suggest formulation of NMI for various minerals in a phased manner. 

iv. To consult states, stakeholder ministries, industry associations, experts etc. for preparing its recommendations. 

The Comments/Suggestions are invited on above mentioned (iii) Point from the government of states and Union Territories, Mining Industry, Stakeholders, Industry Associations and other entities concerned on ToR before August 2, 2021 at [email protected], in which the subject od mail should be “Comments/suggestion on National Mineral Index”. 

[Notice No- F.No.M.VI-16/40/2-21-Mines-VI]



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