Team Herald
PANJIM: A day after receiving a recovery notice for Rs 97.48 crore from Directorate of Mines and Geology for royalty non-payment, Vedanta Ltd on Wednesday clarified that the matter relates to reconciliation of royalty due to the varying interpretation of the iron ore value and not to illegal mining.
DMG in a notice on Tuesday had issued a Rs 97.48 crore demand notice to Vedanta towards non-payment of royalty for 2011 to 2013.
“Some quarters in the media have carried reports stating that Vedanta Sesa Goa Iron Ore has been asked to pay amount for illegal export of ore. The said media reports are erroneous and contain misleading information. The demand notice issued by DMG relates to reconciliation of royalty on iron ore which arises on account of varying interpretation of the office of Director of Mines and Geology and us,” Sesa Goa Iron Ore Division said in a statement.
“We have been extending all possible cooperation to the office of Director of Mines and Geology and shall continue to co-ordinate with them,” it added.
