Odisha to get Rs.700 crore from 29 mine leases

The Odisha government expects to garner revenue of about Rs.700 crore from signing of lease deeds with 29 mining lease-holders, said an official on Wednesday.

The state government has already inked supplementary lease deeds to facilitate reopening of 10 iron and manganese ore mines while it is in the process of signing the lease deeds with the remaining mines within two-three days.

"We are expecting to get around Rs.700 crore from the lessees in terms of stamp duty and registration fees. While 10 mining lease holders have already signed the lease deeds, others would follow in next two-three days," said mines director Deepak Mohanty.

The mines, which have signed the lease deeds were owned by Rungta Group, including Rungta Mines, Feegrade & Company Private Ltd., and the rest are owned by Odisha Manganese & Minerals Ltd. (OMM) and Aryan Mining & Trading Corporation Ltd. (AMTC).

K.J.S Ahluwalia, Kaypee Enterprises, Kalinga Mining Corporation and K.N. Ram & Company are likely to sign the supplementary lease deeds soon.

Recently, the state government allowed reopening of 29 mines under the amended Mines and Mineral (Development and Regulation) Act, 2015. Of these 29 leases, 25 are for iron and manganese ore mines.

The state government has allowed three months' time to the lessees to sign supplementary lease deeds with certain conditions including payment of net present value (NPV) dues.