Section 23 in Atomic Minerals Concession Rules, 2016
23. Manner of payment of royalty on minerals on ad valorem basis.
(1)Every owner of mine, his agent, manager, employee, contractor or Sub-lessee shall compute the amount of royalty on minerals where such royalty is charged on ad valorem basis in accordance with the provisions of Sub-rule (2).(2)For all atomic minerals in Part-B of the First Schedule to the Act, the State-wise sale prices for different minerals as published by the Department shall be the sale price for computation of royalty in respect of any mineral produced any time during a month in any mine in that State, and the royalty shall be computed as per the formula given below:Royalty = ∑ Sale price of mineral (grade wise and State-wise) published by Department of Atomic Energy/ Indian Bureau of Mines / State Government X Rate of royalty (in percentage) X Total quantity of mineral of a particular grade dispatched (removed from the lease area):Provided that if for a particular mineral, the information for a State for a particular month is not published by the State Government and the Department the latest information available for that mineral in the State shall be considered, failing which the latest information for all India for the mineral shall be considered.
