Mining in India gets green nod

India’s Union budget shows a government clearly keen to strike a balance between economic development and environmental protection in the mining space. The editorial is quoted as saying:

In the case of the US proposal, the budget proposes that new royalties on silver, gold and copper hard rock mining be levied. The states receiving mineral revenues would need to pay back some of it to manage the costs of handling mineral releases. In India, the government is deliberating whether or not to ask miners to pay a higher royalty. The earlier profit-sharing clause is likely to be replaced by higher royalty or even a mixture of share and royalty, newspaper reports have indicated.

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