Mumbai | Jan 14, 2016:

The Directorate of Mines and Geology (DMG), Government of Goa, has notified under the Goa Districts Mineral Foundation Rules, 2016 that one-third of the royalty of the mine owners will mandatorily go to the development of the mining belts.

The Contribution to the Foundation trust shall be in terms of the section 9B of the MMDR Act 1957 and the rules made thereunder.

The broad objectives of the Foundation trust include restoring the ecology damaged by mining or other activity, including tree plantation in mining affected Talukas; providing health facilities, education, etc.; building road / bridge network; desalting of water bodies including dams, rivers etc.; installation of pollution control devices, sewage treatment plants; providing required interventions in agriculture, horticulture, dairy farming, animal husbandry; providing alternate employment for the people residing in Mining Talukas and residing in Talukas used for transportation of minerals; compensating families impacted by mining directly through a scheme approved by the Government.

Under the new rules, 50% of the contribution towards the fund of DMF will go to fix deposit or government bonds.

(Source: http://www.indiainfoline.com/)