Govt to earn 400cr from lease deeds of six OMC mines

BHUBANESWAR: The Odisha Mining Corporation (OMC) is yet to sign the lease deeds of six mines, which will earn the state coffer additional revenue of Rs 400 crore in terms of stamp duty and registration fee.
On the recommendation of a panel headed by development commissioner (DC) U N Behera, the state government extended lease period of six mines of OMC in accordance with the provisions of Mines and Minerals Development and Regulation Act, 2015.These are Bangur, South Kaliapani, Sukrangi (chrome mines) and Kurmitar, Daitati and Tiring Pahad (iron ore mines).
"The government has asked us to execute the supplementary lease deeds of these mines this month (July). The estimate cost of stamp duty and registration fee has been calculated in coordination with the respective district collector and sub-registrar," OMC managing director Girish S N told TOI.
The OMC will sign the lease deed of Kurmitar iron ore mine on Friday by paying Rs 121 crore. "We plan to sign lease deeds of all mines in next 15 to 20 days," he said.
Of the six mines, four are in running condition while statutory clearances are awaited for two others.
Meanwhile, 21 leaseholders have signed supplementary lease deeds with the government for opening their closed mines. The state earned Rs 895 crore from it.
On July 8, the DC-led panel had recommended extension of lease period of seven more mines. It awaits the approval of chief minister Naveen Patnaik, official sources said.
Aiming for additional revenue, the steel and mines department is in the process of examining eligibility of more mines to extend their lease period. The eligible mines will be placed before the DC-led panel for consideration, the sources added.