Section 9 of MMDR : Section 9: Royalties In Respect Of Mining Leases

MMDR

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Explanation using Example

Imagine a company, XYZ Mining Corp., that holds a mining lease for extracting iron ore in a particular state in India. The lease was granted to them before the Mines and Minerals (Development and Regulation) Act, 1957 came into effect. According to Section 9(1) of the Act, despite the terms of their original lease agreement or any previous laws, XYZ Mining Corp. is now obligated to pay a royalty for any iron ore they extract after the Act's commencement. The royalty rate they must pay is as per the current rates listed in the Second Schedule of the Act.

In another scenario, a new company, ABC Metals Ltd., received...

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