Making its reservations clear on the mining ordinance, Orissa has said it does not want 50 year term iron ore mining lease and instead wants it to be limited to 30 years.
In a letter to Union Mines Secretary Anup Pujari Monday, state’s Steel and Mines Secretary Rajkumar Sharma said as iron ore is a volatile market it will not be practical for intending bidders to make offers in the competitive bidding based on market forecast over a long period of 50 years. “We are deeply disappointed and distressed to note that the government of India has inserted an amended section 8 and a new section 8A in the MMDR Act to extend the validity of all existing leases, including those under second and subsequent renewal,” said Sharma in his letter.
Orissa said sections 8A(3), 8A(5) and 8A(6) should be deleted as these provisions were not in the draft proposal circulated for consultation with the state governments and have been incorporated in the final ordinance without consulting the states. The largesse of further profit making by the lessees who have already enjoyed supernormal profits should not be extended, it said.
Source: Indian Express
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