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Core Purpose

Notification amending the Second Schedule to the Mines and Minerals (Development and Regulation) Act, 1957 to insert royalty rates for lithium, niobium and rare earth elements and to amend the definition of monazite.

Detailed Summary

Issued by the Ministry of Mines as G.S.R. 736(E) dated 12th October 2023 (F. No. M.VI-16/85/2022-Mines VI), this notification, under sub-section (3) of section 9 of the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957), amends the Second Schedule to the Act by inserting new item 28A prescribing a royalty of three per cent of the London Metal Exchange price chargeable on lithium metal contained in ore produced; substituting "Monazite" in item 33 with "Monazite occurring in beach sand minerals"; inserting new item 34A prescribing a royalty of three per cent of the average sale price of niobium metal, chargeable on both primary niobium (from ores other than Columbite-tantalite) and by-product niobium metal contained in ore produced; and inserting new item 38A prescribing a royalty of one per cent of the average sale price of Rare Earth Oxide chargeable on Rare Earth Oxide contained in ore produced from Rare Earth Elements sourced from ores other than Monazite occurring in beach sand minerals; signed by Dr. Veena Kumari Dermal, Joint Secretary; the Second Schedule was previously amended vide G.S.R. 175(E) dated 31st March 1975 and last amended vide G.S.R. 204(E) dated 15th March 2022.

Full Text

6519GI/202 3 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( i) PUBLISHED BY AUTHORITY No. 583] NEW DELHI, THURS DAY , OCTOBER 12, 2023/ ASVINA 20, 1945 CG-DL-E-13102023-249373 MINISTRY OF MINES NOTIFICATION New Delhi, the 12th October, 2023 G.S.R . 736(E).—In exercise o f the powers conferred by sub -section (3) of section 9 of the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957), the Central Government hereby makes the following further amendments in the Second Schedule to the said Act , namely: — 2. In the Second Schedule to the Mines and Minerals (Development and Regulation) Act, 1957, — (i) after item 28 and the entries relating thereto, the following item and entries shall be inserted , namely: — “28A. Lithium: Three per cent. of Lon don Metal Exchang e price chargeable on the Lithium metal in the ore produced.”; (ii) in item 33, for the word “Monazite”, the words “Monazite occurring in beach sand minerals” shall be substituted; (iii) after item 34 and the entries relating thereto, the following item a nd entries shall be inserted, namely: — “34A. Niobium : (i) Primary (produced from ores other than Columbite - tantalite) (ii) By -product (produced from ores other than Columbite - tantalite) Three per cent. of average sale price of Niobium metal chargeable o n the Niobium metal contained in the ore produced. Three per cent. of average sale price of Niobium metal chargeable on the by -product Niobium metal contained in the ore produced. ”; (iv) after item 38 and the entries relating thereto, the following item and entries shall be inserted, namely: — “38A. Rare Earth Elements (produced from ores other than Monazite occurring in beach sand minerals): One per cent. of average sale price of Rare Ea rth Oxide (REO) chargeable on the Rare Earth Oxide contained in the o re produced. ”. [F. No. M.VI -16/85/2022 -Mines VI ] Dr. VEENA KUMARI DERMAL Jt. Secy. Note: - The Second Schedule to the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957) was amended vide G.S.R. 175(E), dated the 31st March, 1975 and wa s lastly amended vide G.S.R. 204(E), dated 15th March, 2022. Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapur i, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.

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