The Tamil Nadu government is set to generate an additional revenue of about ₹400 crore a year, as it has recently revised the seigniorage fee, area assessment, dead rent and prospecting fee for minor minerals. The revised fee is set to come into force on September 5.
The State government has also decided to revise seigniorage fee, area assessment, dead rent and prospecting fee for minor minerals once in three years, a senior official told The Hindu. An amendment to this effect was made in the Tamil Nadu Minor Mineral Concession Rules, 1959 recently.
The government has constituted a committee which would recommend to it the revised rates under these categories. The Secretary of the Natural Resources Department is the chairperson of the panel. Secretaries of Industries, Environment, Finance and Micro, Small and Medium Enterprises Departments are its members. The Director of Geology and Mining is its Member–Convenor.
In a bid to check the transport of minor minerals mined in Tamil Nadu but being moved to other States, the government has increased the contribution to be made by the quarry owners to the ‘Green Fund’, in case the minerals are transported outside Tamil Nadu, to 50% of the seigniorage fee, another official said.
Earlier, every holder of a prospecting licence or a quarry lease of any mineral shall, in addition to the seigniorage fee, was contributing to the Green Fund 20% of the seigniorage fee. The Green Fund, introduced by the Tamil Nadu government in February 2022 in every district is for reclamation, restoration and rehabilitation of abandoned mines or quarries and the fund is vested with the respective Reclamation, Restoration and Rehabilitation Committee, of which the District Collector is the chairperson.
