NEW DELHI | May 03, 2016: The mines ministry will notify charges for transfer of non-coal mines in 10-15 days, Mines Secretary Balvinder Kumar told ET.
The government will issue the rules for transfer of mines that will specify the transfer charge, most probably as a percentage of royalty, Kumar said. "The rules including transfer charge will be decided independently by the mines ministry. The charges are required to give level playing field to auctioned mines," he said.
The Parliament had on the previous day, on May 2, cleared amendment to the Mines and Mineral Development and Regulation Act to allow transfer of non-coal mines allotted earlier.
The amendment cleared the way for big acquisitions in the cement and mines sector.
(Source: http://economictimes.indiatimes.com/)