In a bid to provide fair compensation to states for uranium mined in their territory, the Cabinet Committee on Economic Affairs (CCEA) today approved payment of royalty at an ad valorem rate of 2 per cent.
The royalty would be paid by state-owned Uranium Corporation of India, the only company that is currently allowed to mine uranium in the country. It sells the uranium it mines to the central government. Currently, the royalty is based on the quality and quantity of the mineral.
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