By Our Correspondent
BHUBANESWAR: The Joda Joint Director of Mines, in State’s Keonjhar district has served a notice bearing no 4833 dated August 13, 2021, to Jajanga Iron Ore Block of JSW Steel Ltd 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 Jajanga Iron Ore Block.
As per the auction, annual target of minimum dispatch of iron ore has been agreed for
92,35,200,000 MT during the first year from 27.06.2020 to 26.06.21, but the Lessee has dispatched an quantity of 78,34,700,680 MT during the first year of lease with a shortfall of , 14,00499.320 MT.
The Company has been asked to pay Rs 523,0024367 as part of differential amount payable towards applicable amount quoted under Rule-12 of Mineral Auction Rules, 2015(EPO multiplied with value of shortfall). Rs 71,31,85,141 as part of differential amount payable as per Rule 13 of Mineral Auction Rules=15% of value of shortfall, Rs 7,13,18,514 as part of as part of differential DMF payable as per Rule 13 of Mineral Auction Rules=10% of differential royalty, Rs Rs 1,42,63,703 as part of differential NMET payable as per Rule 13 of Mineral Auction Rules=2% of differential royalty and Rs 114,10,96,225 as part of value of performance security to be appropriated.
The Joint Director of Mines has given 15 days of time to the JSW Steel Ltd to pay the above amount , otherwise, the Steel and Mines Department will take action to recover the amount.
It may be noted here that JSW Steel Ltd had quoted 110 % and declared as preferred bidder for the Block and the State Government had granted mining lease with letter no 3007/SM, dated 18.03.2020.
