Land owned by coal companies can be leased to private companies, change in land use policy

After allotment of coal mines under commercial mining, land owned by Coal India and its subsidiaries can now be leased out to private companies. For this, the Land Use Policy of Central Public Sector Undertakings has been amended. In this case, the Ministry of Coal has issued a notification on July 29. Accordingly, the Land Use Policy has been amended to allow leasing to private companies for coal infrastructure and other development activities. The land will be leased out to private companies without any change in ownership of the land. The lease will be for 50 years. Under commercial mining, leases will be granted only to companies allotted coal mines. For Government Coal Mines, we tell you that land is acquired under CBA Act or Coking Coal Mines (Nationalization) Act, 1972 (CCMN Act), Coal Mines (Nationalization) Act, 1973 (CMN Act). Leases are for long term: Surface leases granted by government agencies are for long term. That is up to 50 years. A mining lease/sub-lease will be granted under the MMDR Act and the terms and conditions applicable to a mining lease under the MMDR Act will apply to such mining leases. The lessee/sub-lessee shall pay royalty, dead rent, auction amount, surface rent or any other statutory amount to the State Government and shall pay the amount due by the lessee under the MMDR Act to the District Mineral Trust and the National Mineral Exploration Trust. . Tenant / sub-tenant Land acquisition, cost of rehabilitation and settlement, cost of work in lieu of land, other incidental or ancillary costs/expenses etc. will be paid by the Government agency at prevailing market rates. In addition, the lessee will pay surface lease rent to the government agency at the rate of Rs.1000 per hectare per annum. Disclaimer: This is an automated news feed of Prabhat Khabar newspaper. This is not edited by Prabhat Khabar.com team The post Coal companies' land can be leased to private companies, change in land use policy appeared first on Prabhat Khabar.