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Core Purpose

Notification amending the First Schedule to the Offshore Areas Mineral (Development and Regulation) Act, 2002, revising royalty rates for various offshore minerals.

Detailed Summary

In exercise of powers under sub-section (2) of Section 16 of the Offshore Areas Mineral (Development and Regulation) Act, 2002 (17 of 2003), the Ministry of Mines, via notification S.O. 4760(E) dated 29th October 2024, amended the First Schedule to the Act. The amendments substitute 'sale price' with 'average sale price' in items 1, 3, 6, 8 and 10; insert new item 1A, Construction Sand, at a royalty of forty rupees per tonne; substitute item 2, Dolomite, at fifty rupees per tonne; substitute item 5, Limestone and Lime mud, at fifty rupees per tonne; and insert new item 7A, Polymetallic Nodules and Crusts, at three percent of the average sale price on an ad valorem basis, and item 9A, Overburden or waste, at ten rupees per tonne. Signed by Sanjay Lohiya, Additional Secretary (F. No. M.VI-1/7/2024-Mines VI).

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-30102024-258376 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 4383] NEW DELHI, TUESDAY, OCTOBER 29, 2024/KARTIKA 7, 1946 2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II-SEC. 3(ii)] 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:— +------------+-------------------+----------------------+ | Item No. | Item Name | Value | +============+===================+======================+ | 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:— +------------+-----------+---------------------+ | Item No. | Item Name | Value | +============+===========+=====================+ | 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:— +------------+-----------------------+---------------------+ | Item No. | Item Name | Value | +============+=======================+=====================+ | 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:— +------------+-----------------------------+-----------------------------------------------------+ | Item No. | Item Name | Value | +============+=============================+=====================================================+ | 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:— +------------+-------------------+-------------------+ | Item No. | Item Name | Value | +============+===================+===================+ | 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. RAVINDER KUMAR Digitally signed by RAVINDER KUMAR Date: 2024.10.30 21:54:34 +05°30'

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