27 AUGUST 2014AlCircle.com
Odisha the highest gainer in the royalty hikes on mineral ores
Edited by : AL CIRCLE
1 min read
Post the Government’s announcement regarding the royalty hike on 23 minerals last week, it seems five states in particular will be benefitting the most namely – Odisha, Karnataka, Jharkhand, Goa and Chhattisgarh.
Royalty rates on metallurgical-grade bauxite and laterite has been revised to 0.6 percent of the current price of aluminium on the LME instead of the 0.5 percent it was before.
Among the 19 mineral rich states, these 5 will experience a 45 to 50 percent rise in royalty revenues, with a total earning of INR 3,867.73 crore in terms of mining royalties over the original estimates slated for the year. Collective earnings of all 19 states amount to something like INR 13,274.17 from INR 9,406.44 rising by 41.12 percent.
Odisha reigns as the supreme beneficiary with the 0.1 percent increase in bauxite and 5 percent rise in iron ore royalties. Mineral revenues will rise to INR 4,879.92 crore from the two year old earning of INR 3,249.54 crore, up by 50.17 percent.
Chhattisgarh’s revenues will rise 46.77 percent, Karnataka will gain 45.57 now the mining ban has lifted while Goa will gain by 49.99 percent.
Royalty rates on metallurgical-grade bauxite and laterite has been revised to 0.6 percent of the current price of aluminium on the LME instead of the 0.5 percent it was before.
Among the 19 mineral rich states, these 5 will experience a 45 to 50 percent rise in royalty revenues, with a total earning of INR 3,867.73 crore in terms of mining royalties over the original estimates slated for the year. Collective earnings of all 19 states amount to something like INR 13,274.17 from INR 9,406.44 rising by 41.12 percent.
Odisha reigns as the supreme beneficiary with the 0.1 percent increase in bauxite and 5 percent rise in iron ore royalties. Mineral revenues will rise to INR 4,879.92 crore from the two year old earning of INR 3,249.54 crore, up by 50.17 percent.
Chhattisgarh’s revenues will rise 46.77 percent, Karnataka will gain 45.57 now the mining ban has lifted while Goa will gain by 49.99 percent.
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