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.
FlashNews:
InfraPandit Awards to Honour Doctoral Excellence in Infrastructure
REC Wins Leading CSR and Sustainability Award for Healthcare Support
HAL Set to Enter New Global Space Race with SSLV Contract Win
Multimodal Logistics: Optimising Assets, Strengthening Supply Chains
Gadkari Announces FASTag Annual Pass to Ease Private Vehicle Movement from Independence Day
Air India 171 Crash: A Definitive Inflection Point for Indian Aviation
REC Reports Strong Profit Growth
GAIL Reports Record Profit Surge
India Calls for Inclusive Energy Governance at BRICS Meet
Mumbai-Ahmedabad Bullet Train’s 300 km Viaduct Milestone
India Revokes Security Clearance to Turkish Firm Çelebi
Major Ports Handle Record Cargo Throughput in FY2025
India Committed to Unlocking Energy Potential: Puri
Gaganyaan Scheduled for 2027 Launch
Defence Budget Set for Rs.500 Billion Top-up
Operation Sindoor: The Indigenous Edge
Securing India’s New Crown Jewels
Logistics parks, multimodal cargo hubs poised for rapid growth
India is ready to build for the world!
Home » States to put 82 blocks for auction by Oct-Nov: Mines Secy
States to put 82 blocks for auction by Oct-Nov: Mines Secy
Coal & Mining
September 1, 2015September 1, 2015

Leave a Reply
You must be logged in to post a comment.