The Offshore Areas Mineral (Development and Regulation) Act, 2002

THE FIRST SCHEDULE

[See section 16(1)]

RATES OF ROYALTY

1. Brown ilmenite (leucoxene), Ilmenite,

Rutile and Zircon

Two per cent. of sale price on ad valorem basis.

2. Dolomite Forty rupees per tonne.

3. Garnet Three per cent. of sale price on ad valorem basis.

4. Gold One and half per cent. of London Bullion Market

Association price (commonly referred to as

“London Price”) chargeable on the contained gold

metal in ore produced.

5. Limestone and Lime mud Forty rupees per tonne.

6. Manganese Ore Three per cent. of sale price on ad valorem basis.

7. Monazite One hundred and twenty-five rupees per tonne.

8. Sillimanite Two and half per cent. of sale price on ad valorem

basis.

9. Silver Five per cent. of London metal Exchange price

chargeable on the contained silver metal in ore

produced.

10. All other minerals not hereinbefore

specified.

Ten per cent. of sale price on ad valorem basis.

THE SECOND SCHEDULE

[See section 17(1)]

RATES OF FIXED RENT

Rates of fixed rent in rupees per standard block per annum

Size 1st Year of the lease 2nd to 5th year of

the lease

6th to 10th year of

the lease

11th year of the

lease and onwards

Standard block of

5 minutes

longitude by 5

minutes latitude

Nil Rupees 50,000 Rupees 1,00,000 Rupees 2,00,000