CSE hails mining profit sharing with localsJuly 8th, 2011 - 9:21 pm ICT by IANS
New Delhi, July 8 (IANS) The Centre for Science and Environment (CSE) Friday hailed a government decision asking coal mining companies to share 26 percent of their profits with local communities.
According to a Group of Ministers (GoM), non-coal mining companies will have to share 100 percent of their royalty.
Sunita Narain, director general of CSE, said: “The government’s proposal to share the benefits of mining with local people is an important step ahead in building an inclusive growth model. The principle is what is more important, whether it is based on profit or royalty.”
A number of countries have incorporated the provision of benefit sharing in their mining legislations to enable local communities to benefit from mining activities in their region.
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