Reimbursement of Exploration Expenditure Rules, 2022

Central Government Notification

The Central Government notified the Reimbursement of Exploration Expenditure Rules, 2022 in order to prescribe the manner for reimbursement of expenditure incurred towards reconnaisance or prospecting operations. These rules shall be applicable only to such concession holders or applicants who had acquired a right for obtaining a prospecting licence followed by a mining lease or a mining lease, as the case may be, under section 10A (2) (b) of the Act and whose said right has lapsed on the date of lapse.

 

Key points:

  • Claims for exploration expenditure: A claimant may submit a claim for reimbursement of expenditure incurred towards reconnaissance or prospecting operations to the State Government in the Form set forth in Schedule I to these rules within a period of one year from the date of commencement of these rules with an intimation to the National Mineral Exploration Trust.
  • Assessment of claim by the Reimbursement Assessment Committee: On receipt of claim from the State Government, the Reimbursement Assessment Committee shall examine the work done by the permit holder or licencee, as the case may be, in accordance with the rules for the time being in force as on the date of lapse. The Reimbursement Assessment Committee shall assess the reimbursement amount based on the actual expenditure incurred by the claimant on the exploration activities and the said reimbursement amount shall not exceed the amount given in the approved schedule of charges of such authorities as specified by the Central Government.
  • Reimbursement: On receipt of assessment report from the Reimbursement Assessment Committee, the State Government shall forward the report along with its recommendations on the same to the National Mineral Exploration Trust.

Join the discussion

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.