Home ECONOMY Odisha Govt collects Rs 90 Cr under district mineral foundation

Odisha Govt collects Rs 90 Cr under district mineral foundation


Odisha Sun Times Bureau
Bhubaneswar, Mar 11:

Odisha Government has so far collected Rs 90 crore under the District Mineral Foundation (DMF) from four districts of the state.


Odisha Steel and Mines Secretary RK Sharma today said so while speaking at the 4th Minerals and Metals Odisha Conclave – ‘Strategies for Sustainable Growth’ organized by the Indian Chamber of Commerce (ICC).

“We have started collecting funds under the DMF. So far, we have collected around Rs 90 crore from four districts such as Angul, Keonjhar, Sundergarh and Jajpur. The entire amount would be spent for overall development of the mineral bearing areas,” said Sharma.

Addressing the event, Odisha Mines Director Deepak Mohanty said that the government would put three to four more mines on auction within next six months. He, however, did not reveal the name of the mines.

Notably, the mine leaseholders pay an additional amount beyond the royalty under DMF. This fund, in turn, is spent for infrastructure development of mineral bearing areas. The Mines and Minerals (Development and Regulation) Act (MMDRA) implemented by the NDA government had introduced the provision of DMF.


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