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Mining operations: Govt collects about Rs 5,000 crore through District Mineral Foundation

On the achievements made by the Ministry in December, the official said that two mineral blocks of limestone and manganese ore were successfully auctioned in Odisha.

By: PTI | New Delhi | Published: January 16, 2017 4:24 pm
Bellary mines, Iron ore, steel sector, Karnataka’s seven iron ore mines, premium rate, karnataka iron ore, limestone mines, gold mines, diamond mines, mine auction, indian express news, business news DMF is to work for the interest and benefit of persons and areas affected by mining-related operations. (File)

Nearly Rs 5,000 crore has been collected so far through District Mineral Foundation (DMF), which will be utilised by the states for the development of places and people affected by mining-related operations. The Mines Ministry is monitoring the implementation of the DMF and the Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY).

“So far about Rs 5,000 crore has been collected in the fund (DMF),” an official said.

The official further said, except for Tamil Nadu, all the remaining major mineral-bearing states have instituted DMF and adopted guidelines in Pradhan Mantri Khanij Kshetra Kalyan Yojana, the official said.

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As follow up of Committee of Secretaries’ (CoS) meetings, discussions were held with National Institute of Smart Government (NISG) for development of a national portal to monitor the implementation of projects/schemes being undertaken under this major welfare initiative of the Centre, the official added.

DMF is to work for the interest and benefit of persons and areas affected by mining-related operations. It is to be funded out of the contribution received from holders of mining lease, Mines Ministry had earlier said in a statement.

On the achievements made by the Ministry in December, the official said that two mineral blocks of limestone and manganese ore were successfully auctioned in Odisha.

These two blocks have an estimated value of mineral resources to the tune of Rs 7,458 crore.

“The estimated cumulative revenue to the state government’s over a period of 50 years through the process of e-auction of these two blocks turns out to be approximately Rs 2,822 crore, inclusive of royalty, contribution to District Mineral Foundation and National Mineral Exploration Trust,” the official added.

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