Jaipur | June 20, 2017: In a major relief to mining leaseholders, the Rajasthan government has revised and simplified Rajasthan Minor Mineral Concession Rules, 2017 (new rules).

Acting on the directions of Chief Minister Vasundhara Raje, department of mines and minerals has reduced the performance security to 50 per cent on mining lease and quarry licenses which was earlier 100 per cent of dead rent and license fees in the rules.

Now, letter of intent (LoI) holders and acceptance holders of mines will have to pay a one-time premium in the first year.

They will have to pay 2.5 times of years premium dead rent or license fees as a premium amount.

Prior to the new amendment, premium had to be paid every year in the 50 years lease period which was cumbersome for LOI or acceptance holders.

In the rule, 2017, dead rent schedule rate for new and old mines was applied from March 1, 2017 due to which the dead rent of many mines had increased manifold.

Keeping in mind the difficulties of these mines holders, the schedule dead rent will now be applicable only on new sanctioned mines.

All old mining lease holders will continue to pay dead rent at the old rates till August 31, 2017.

Dead rent of these holders will be amended on September 1, 2017.

Lease holders had to pay dead rent one-time annually which has been amended.

Now, it can be paid in four quarterly installments.

Also, rules of royalty recovery on bricks have been revised by the government. It has also reduced the maximum amount of premium for the transfer of the mine by the mine holder to his wife, husband, son or daughter, from Rs 10 lakh to Rs 50,000.

(Source: http://indiatoday.intoday.in/)