The 12 mineral producing states will put 82 mining blocks containing minerals such as iron ore, bauxite, limestone under the hammer by October-November this year, according to a top government official.
Saying that states are required to go for auctioning of the mines as per the new amended Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2015 (MMDR Act), Mines Secretary Balwinder Kumar revealed states are being pursued to move ahead with the auctions.
´In Phase I, 12 major states have identified 82 blocks and they are confident that by October-end or November they will start the auction. This process will take two-three months,´he said.
The mines ministry has advised states to consider engaging SBI Capital, a wholly-owned subsidiary of public sector lender State Bank of India, as adviser to the tran-¡saction and to consider engaging state-run metal scrap trading firm MSTC, which provides the platform for coal auctions.