Coal news and updates

SCCL announces additional 30% royalty on coal

Singareni Collieries Company Ltd (SCCL) has imposed an additional 30% royalty on coal towards its contribution for the District Mineral Foundation Trust (DMFT).

As per the directive from the Director of Mines & Geology on January 29, 2016, the additional 30% royalty is being levied with effect from ’00-00’ hours of January 12, 2015, the company said in a notification dated February 9.

In January 2016, SCCL had announced new royalty and energy cess for washery grade coal and also revised the prices of Ramagundam (RG) OC-II Extension project. The royalty and clean energy cess for washery grade coal was to be charged with effect from September 21, 2015, it said.

Earlier, Northern Coalfields Ltd (NCL), a Coal India Ltd subsidiary, had announced revision of rates due to implementation of the National Mineral Exploration Trust (NMET) proposals towards contribution under DMFT in December 2015. 

Source: ICMW