Ministry of Mines proposes further changes in conversion factor for calculating Average Sale Price (ASP) in respect of metallurgical grade bauxite; invites comments by 30.07.2022
Further to the trail mail where we reported that the Ministry of Mines (“Ministry”) has proposed amendments to the Mines and Minerals (Development and Regulation) Act, 1957 such as introducing the new method of calculating ASP (“Average Sale Price”) to reduce the effect of taxes, removing some minerals from the list of atomic minerals, removing the requirement of Environmental Clearance for exploration, etc., the Ministry by way of a recent public notice has additionally proposed to bring about change in conversion factor for calculating ASP for metallurgical grade bauxite and revise the conversion factor to 4.23% as against 6.4% to rationalize the calculation of ASP.
Comments / suggestions are invited from the general public and relevant stakeholders, if any, which must be addressed to Shri Mustaq Ahmad, Director, Ministry of Mines, Room No. 313, D-Wing Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi – 110001 in writing or by way of an e-mail at (jspolicy-mines@gov.in) with the subject, “Comments/ Suggestions on the additional proposal” on or before 30th July, 2022.
Source: Ministry of Mines
