India: According to Cogencis MoneyWire, the Madras High Court has dismissed ACC's writ petition against a demand notice regarding a 50% royalty due over a mining lease for limestone removal from government-owned lands.
The royalty demand was for US$1.17m for 1988 - 1998. ACC was granted the lease to mine limestone from 140,000m2 of land at Madukkarai Village in Tamil Nadu and was subsequently granted another mining lease. According to local media, initially a lessee has to pay royalty at the rate of 50%, after which it was obligatory on the part of every leaseholder to pay 100% royalty.
