In a statement issued on Tuesday, FEMMI Secretary General Dr Ch. Rao expressed gratitude to Chief Minister N. Chandrababu Naidu and Principal Secretary of Mines Praveen Kumar for addressing long-pending industry concerns. He noted that the policy would enhance the sector’s contribution to the State’s Gross Domestic Product.

The policy includes clearing backlogged applications, minimal penalties for one-time settlements, and free transfer of leases to family members upon a leaseholder’s death. It also shifts to tonnage-based seigniorage, eliminates multiple taxation, and allows installment-based premium payments, which Rao says will benefit small operators and attract new investment.

Mining leases for road metal, gravel, and building stone will now follow a first-come, first-served application process, while the auction system will apply only to minerals such as silicon, sand, quartz, and dolomite.

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