Govt to cancel mining leases of defaulting companies

PRESS TRUST OF INDIA

Jammu, Nov 20: The Jammu and Kashmir government will cancel mining leases for mineral exploration of those companies who default in royalty payment after the year-end deadline.
 "The lease holders have been asked to clear their outstandings on account of royalty (to the state government) by December end this year positively. Any default in this regard would result in cancellation of their lease deeds," Minister for Industries and Commerce S S Salathia said here today.
 He said the personnel of the listed mineral lease holders will also be imparted short term duration managerial trainings to promote scientific based mineral exploration and production in the state.
 The Minister, who interacted with lease holders for mineral exploration in the state, directed the officers of Geology and Mining
 Department to conduct training programmes for them. The training is to be provided under the supervision of qualified and competent managerial staff.
 Maintaining that J&K state is bestowed with huge reserves of mineral wealth, the Minister said government would provide all possible facilities and logical support to lease holders to improve mineral production and exploration.

Lastupdate on : Tue, 20 Nov 2012 21:30:00 Makkah time
Lastupdate on : Tue, 20 Nov 2012 18:30:00 GMT
Lastupdate on : Wed, 21 Nov 2012 00:00:00 IST



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