Home› India› Ministry of Mines› Amendment in First Schedule to the Offshore Areas Mineral (D...
Date: 29-Oct-2024 Category: Extra Ordinary State: Union Government Country: India

Amendment in First Schedule to the Offshore Areas Mineral (Development and Regulation) Act, 2002

Issued by Ministry of Mines · Not Applicable

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

What it means

  • This gazette notification issued by the Ministry of Mines amends the First Schedule of the Offshore Areas Mineral (Development and Regulation) Act, 2002. The amendments primarily revise the royalty rates for certain minerals extracted from offshore areas. It introduces new categories of minerals and sets specific royalty rates for them, while also changing the basis of royalty calculation from 'sale price' to 'average sale price' for several existing categories.

Key Changes

  • The term 'sale price' is replaced with 'average sale price' for items 1, 3, 6, 8, and 10 in the First Schedule.
  • A new item '1A. Construction Sand' is introduced with a royalty rate of forty rupees per tonne.
  • The royalty rate for '2. Dolomite' is set at fifty rupees per tonne.
  • The royalty rate for '5. Limestone and Lime mud' is set at fifty rupees per tonne.
  • A new item '7A. Polymetallic Nodules and Crusts' is introduced with a royalty rate of three percent of the average sale price on ad valorem basis.
  • A new item '9A. Overburden or waste' is introduced with a royalty rate of ten rupees per tonne.

Impact Analysis

Mineral Extraction Companies

  • The introduction of royalty on overburden or waste will increase the cost of extraction.

Government Revenue

  • The change to average sale price may impact the overall revenue depending on the method of calculation.

Consumers

  • The cost of products using polymetallic nodules and crusts may fluctuate based on the royalty rate and market prices.

Action Items for Companies

  • Evaluate the impact of royalty on overburden/waste on overall extraction costs.

Key Entities Referenced

Ministry of Mines: The government ministry responsible for issuing the gazette notification and regulating the mining sector. Offshore Areas Mineral (Development and Regulation) Act, 2002: The primary legislation governing the development and regulation of minerals in offshore areas. The gazette notification amends the First Schedule of this Act. Central Government: The authority that has issued the notification.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सससससीीीीी.....जजजजजीीीीी.....-----डडडडडीीीीी.....एएएएएललललल.....-----अअअअअ.....-----3333300000111110000022222000002222244444-----222225555588888333337777766666 CCCCCGGGGG-----DDDDDLLLLLxx-----xEEEEEG-----I33333D00000H11111x00000x22222x00000 2222244444-----222225555588888333337777766666 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण्ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 4383] नई दिल्ली, मगं लिार, अक्त बू र 29, 2024/कार्तका 7, 1946 No. 4383] NEW DELHI, TUESDAY, OCTOBER 29, 2024/KARTIKA 7, 1946 खान मंत्रालय अजधसूचना नई दिल्ली, 29 अक् तूबर, 2024 का.आ. 4760(अ).—केन्द्रीय सरकार अपतट क्षेत्र खजनि (जिकास और जिजनयमन) अजधजनयम, 2002 (2003 का 17) की धारा 16 की उपधारा (2) द्वारा प्रित्त िजियों का प्रयोग करते हुए, एतिद्वारा उि अजधजनयम की प्रथम अनुसूची में जनम्नजलजखत संिोधन करती है, अथाात्:–– 2. अपतटीय क्षेत्र खजनि (जिकास और जिजनयमन) अजधजनयम, 2002 की प्रथम अनुसूची में,–– (i) मि संख्या 1 में, "जिक्रय कीमत" िब्िों के स्ट् थान पर, "औसत जिक्रय कीमत" िब्ि रखे िाएंगे; (ii) मि 1 और उससे संबंजधत प्रजिजियों के पश्चात् जनम्नजलजखत मि और प्रजिजियां अंतःस्ट्थाजपत की िाएंगी, अथाात्:–– “1क. जनमााण रेत चालीस रूपये प्रजत टन।”; “1क. (ii i) मि 2 और उससे संबंजधत प्रजिजियों के स्ट् थान पर जनम्नजलजखत मि और प्रजिजियां रखी िाएंगी, अथाात्:–– “2. डोलोमाइट पचास रूपये प्रजत टन।”; “1क. (iv) मि 3 में “जिक्रय कीमत” िब्िों के स्ट् थान प र "औसत जिक्रय कीमत" िब् ि रखे िाएंगे; (v) मि संख्या 5 और उससे संबंजधत प्रजिज‍ टयों के स्ट् थान पर जनम् नजलजखत मि और प्रजिज‍ टयां रखी िाएंगी; 7075 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] “5. चूनापत्थर और चूना जमट्टी पचास रूपये प्रजत टन।”; (vi) मि संख्या 6 में, "जिक्रय कीमत" िब्िों के स्ट् थान पर "औसत जिक्रय कीमत" िब् ि रखे िाएंगे; (vii) मि 7 और उससे संबजं धत प्रजिजियों के पश्चात् जनम्नजलजखत मि और प्रजिजियााँ अंतःस्ट्थाजपत की िाएंगी, अथाात्:–– “7क. पॉलीमेटेजलक नोड्यूल् स और क्रस्ट् ्स मूल् यानुसार औसत जिक्रय कीमत का तीन प्रजतित।”; (viii) मि सख्ं या 8 में, "जिक्रय कीमत" िब्िों के स्ट् थान पर "औसत जिक्रय कीमत" िब्ि रखे िाएंगें; (ix) मि संख्या 9 और उससे संबजं धत प्रजिज‍ टयों के पश्चात् जनम् नजलजखत मि और प्रजिज‍ टया ाँअंत:स्ट् थाजपत की िाएंगी, अथाात् :––– “9क. अजधभार या अपजि‍ ट िस रूपये प्रजत टन।”; (x) मि सख्ं या 10 में, "जिक्रय कीमत" िब्िों के स्ट् थान पर "औसत जिक्रय कीमत" िब्ि रख ेिाएंग।ें [फा. स.ं एम.VI-1/7/2024-खान VI] संिय लोजहया, अपर सजचि MINISTRY OF MINES NOTIFICATION New Delhi, the 29th October, 2024 S.O. 4760(E).—In exercise of the powers conferred by sub-section (2) of section 16 of the Offshore Areas Mineral (Development and Regulation) Act, 2002 (17 of 2003), the Central Government hereby makes the following amendments in the First Schedule to the said Act, namely:— 2. In the First Schedule to the Offshore Areas Mineral (Development and Regulation) Act, 2002,— (i) in item 1, for the words “sale price”, the words “average sale price” shall be substituted; (ii) after item 1 and the entries relating thereto, the following item and entries shall be inserted, namely:— “1A. Construction Sand Forty rupees per tonne.”; (iii) for item 2 and the entries relating thereto, the following item and entries shall be substituted, namely:— “2. Dolomite Fifty rupee per tonne.”; (iv) in item 3, for the words “sale price”, the words “average sale price” shall be substituted; (v) for item 5 and the entries relating thereto, the following item and entries shall be substituted, namely:— “5. Limestone and Lime mud Fifty rupee per tonne.”; (vi) in item 6, for the words “sale price”, the words “average sale price” shall be substituted; (vii) after item 7 and the entries relating thereto, the following item and entries shall be inserted, namely:— “7A. Polymetallic Nodules and Crusts Three per cent. of the average sale price on ad valorem basis.”; (viii) in item 8, for the words “sale price”, the words “average sale price” shall be substituted; (ix) after item 9 and the entries relating thereto, the following item and entries shall be inserted, namely:— “9A. Overburden or waste Ten rupees per tonne.”; (x) in item 10, for the words “sale price”, the words “average sale price” shall be substituted. [F. No. M.VI-1/7/2024-Mines VI] SANJAY LOHIYA, Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Continue your research

Related Documents from Ministry of Mines