By Our Correspondent
BHUBANESWAR: The Joda Joint Director of Mines, in State’s Keonjhar district has served a notice bearing no 4839 dated August 13, 2021, to Balda Iron Ore Block of Serajuddin and Co citing demand on shortfall in despatch vis a vis the minimum dispatch required under Sub-Rule -1 of 12(A) of (Other than Atomic and Hydrocarbon Energy Mineral) concession Rules, 2016 in respect of Roida-II Iron Ore Block under Champua Sub-Division in Keonjhar.
As per the auction, annual target of minimum dispatch of iron ore has been agreed for
85,05,600.000 MT during the first year from 07.07.2020 to 06.07.21, but the Lessee has dispatched an quantity of 13,91,898.651 MT during the first year of lease with a shortfall of 71,13,701.349 MT.
The Company has been asked to pay Rs 4480,34,77,826 as part of differential amount payable towards applicable amount quoted under Rule-12 of Mineral Auction Rules, 2015(EPO multiplied with value of shortfall).
The Joint Director of Mines also asked the Company to pay Rs 569,29,45,086 as part of differential amount payable as per Rule 13 of Mineral Auction Rules=15% of value of shortfall, Rs 56,92,94,509 as part of differential DMF payable as per Rule 13 of Mineral Auction Rules=10% of differential royalty.
Rs 11,38,58,902 as part of differential NMET payable as per Rule 13 of Mineral Auction Rules=2% of differential royalty and Rs 910,87,12,138 as part of value of performance security to be appropriated. The Joint Director of Mines has given 15 days of time to the Company to pay the above amount , otherwise, the Steel and Mines Department will take action to recover the amount. It may be noted here that Serajuddin and Co had quoted 118.05 and declared as preferred bidder for the Block and the State Government had granted mining lease with letter no 5839/SM, dated 07.07.2020.
