Any idea when is the company’s lease due for renewal? In connection with NMDC, I found this on internet - “Government companies or corporations whose mining lease has been extended after the commencement of the MMDR Amendment Act, 2015, are to pay 150% of the royalty payable. In other words, NMDC will be required to pay a 22.5% royalty against 15% earlier, on iron ore volumes from all mines, except for the Kumaraswamy mine (annual capacity 7 mt) in Chhattisgarh. The same had resulted in an additional expenditure of ₹149 crore during Q4 and expenditure will be higher moving ahead”. Just wanted to know if this will hit the company any time soon.
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