MINERAL RESOURCE TAX AND REVISION IN ROYALTIES ON IRON ORE



 Merchant Miners may face Royalty revision and Mineral Resource Tax
The government is expecting to revise the royalty rates on Iron Ore which is currently ten percent in the minerals rich state. The state of Orissa which has almost 35% of total Iron Ore reserves of India is also looking to impose the mineral resource rent to fifty percent on the guidelines on Australia which has announced the mineral resource rent of thirty percent which will be applicable on iron ore from July1, 2012.
The mining companies are making almost profit of eighty percent from mining and supplying iron ore from the iron ore rich state of Orissa. The government will use the extra royalty for development works and jobs.
The government sources believe that the royalty has to be revised along with the implementation of mineral resource tax. The profits made by merchants in iron ore industry is the highest in comparison to any other industry in India.

Iron Ore R.O.M ( Old Dump) Available

Iron Ore Old Dump of ROM
Available Iron Ore ROM old dumps on at West Coast India. The Details of the dump is as mention below
·         Fe Content Ranging : 40% to 48%
·         SiO2 : 12%
·         Al2O3 : 7%
·         Size : 00mm to 200mm
·         The ration of Fines and Boulder : 40% Fines and 60% Boulders
The Grade of boulder is expected to be 48% Fe content.
After crushing the final grade all together may be possible around 46% Fe Content.
The Quantity available is 2,50,000MT
Royalty has to be paid.
The stock is on private property.
NOC from the plot owner is possible.
Interested parties are invited with their best offers.
Inspection of the stock is provided to genuine buyers.
Do write to us for more details.