India plans to auction over 100 mineral blocks by March 2019

India plans to auction over 100 mineral blocks by March 2019

NEW DELHI: Having secured Rs 1.81 lakh crore in its kitty from e-auction of 50 mineral blocks, the government is looking to put on block another 100 mines in the next six months, according to the Ministry of Mines.nnThe government so far has auctioned 50 mines, including 23 limestone, 17 iron ore, 4 gold, 2 each of manganese and graphite blocks and one bauxite and diamond block each.nnThere are 102 blocks in pipeline to be auctioned by March 2019 in Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Telangana and Assam, as per a report by the Ministry of Mines on progess of block auction.nnThese include 42 limestone, 19 bauxite, 11 manganese ore, 8 copper, 6 iron ore, 6 graphite, 3 zinc, 2 emerald, 2 gold, 1 iron ore & manganese, 1 dolomite/limestone and 1 copper ore.nnAs per the report, Jharkhand will auction the highest 20 blocks followed by 16 by Rajasthan and 13 each by Madhya Pradesh and Maharashtra.nnOf these 102, the government plans to auction two limestone blocks in October.nnOf the two blocks, one is in Andhra Pradesh and the other is in Gujarat.nnThe Chintalayapalle-Abdullapuram-Korumanipalli (CAK) limestone block in Andhra Pradesh with reserves of 104.68 million tonnes (MT) will be auctioned on October 12.nnThe Bhatvadiya block in Gujarat with reserves of 477.2 MT will go under the hammer on October 17.nnThe Centre had earlier said it was considering granting all approvals, including environmental clearance, to mineral blocks before putting them up for sale, a move that may give a push to the auctions.nnThe idea is to fast-track auctioning and iron out issues related to green clearances and land rights are addressed upfront.nnIt has given in-principle approval to provide single clearance for environment and forest to the new lease holders of the 288 mining leases expiring in two years.nnFrom the 50 mineral blocks auctioned so far since 2015, the government will earn a revenue of Rs 1.81 lakh crore over the lease period.nnTo ensure transparency in the mineral sector, Mines and Minerals Development and Regulation) Amendment Bill, 2015 was passed by Parliament in 2015.nnSource: Press Trust of India

Leave a Reply

Your email address will not be published.