TEAM HERALD
PANJIM: A total 19 iron ore mining leases have been renewed for a period of 20 years till date, with the Directorate of Mines and Geology (DMG) signing lease agreement with one more mining lease holder Rajaram Bandekar Pvt Ltd, on Monday.
Director of Mines and Geology Prasanna Acharya Monday morning signed the Form K under Mineral Concession Rule (MCR) with Rajaram Bandekar Pvt Ltd (TC No- 4/49). With this the total leases renewed add up to 19.
The department has already signed lease agreements with Sociedade Timblo Irmaos Limitada –Fomento (TC No -45/52 and 88/52), Sesa Goa Ltd (6/55, 126/53, 70/52) Geetabala Parulekar (55/51), V M Salgaocar & Bro Pvt Ltd (TC No- 50/53, 13/55, 29/54 and 83/52), Kunda Gharse (51/52) and Pandurang Timblo Pvt Ltd (51/53). The leases have been renewed under Section 8(3) of MMDR Act, 1957 under the specific declaration that this is in the interest of mineral development. The lease holders have been asked to pay lease renewal registration fees equivalent to the Stamp Duty, which was 15% on the projected royalty for over 20 years. DMG will issue lease renewal orders to 8 more leases.
