Highlight
- Government plans to auction 22 mineral blocks in Maharashtra, UP and Goa in November and December
- The mines to be auctioned include 6 iron ore blocks, 3 blocks of limestone and gold
- Notice inviting tender for blocks was issued in September
auction of mineral blocksGovernment is planning to auction 22 mineral blocks in Maharashtra, Uttar Pradesh and Goa in November and December.
According to the Ministry of Mines, the mines to be auctioned include six iron ore blocks, three each of limestone and gold, two blocks of bauxite, one each of copper, phosphorite and glauconite.
A notice inviting tender for the blocks was issued in September.
While mines in Maharashtra will be auctioned next month, mines in Uttar Pradesh and Goa will go up for sale in December.
Since the introduction of the system of auction of mineral blocks, more than 180 mineral blocks have been sold so far. The government had started the process of allocation of mineral blocks through auction in 2015-16.
The ministry expects 500 mines to be auctioned by the end of 2024.
The Center is aiming to increase the contribution of the mining sector to the country’s Gross Domestic Product (GDP) from the current 2.5 per cent to 5 per cent.
The Ministry has also notified the Minerals (Evidence of Mineral Content) Second Amendment Rules, 2021 and the Minerals (Auction) Fourth Amendment Rules, 2021.
(with PTI inputs)
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