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Indian iron ore mining mess - CEC recommends sever measures
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Saturday, 11 Feb 2012
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ET reported that the Supreme Court appointed Central Empowered Committee has categorized mines into three kinds and had also suggested that 45 mines be allowed to resume mining and remaining 72 first pay steep penalties.

For every hectare of mining pit outside a lease area, a penalty of INR 5 crore is to be collected. For encroachments in the nature of dumps or roads, the penalty is IR 1 crore.

The CEC has also said that when mining resumes, a 10 % levy on sale be collected towards a special purpose vehicle that would fund dedicated mining infrastructure.

(Sourced from ET)

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