Bunder diamond mine, 12 other mineral blocks to go under hammer next month

The government will auction 13 mineral blocks, including Bunder diamond mine in Madhya Pradesh, next month.

The Bunder diamond mine in Chhatarpur district of Madhya Pradesh has reserves of around 34.20 million carats of diamond, according to the mines ministry.

Two gold blocks, Chakariya mine at Singrauli and Imaliya gold block at Katni in Madhya Pradesh, are also among the 13 mines to be up for auction, it said.

The government also plans to auction mines of limestone, base metal, bauxite and graphite, it said.

According to the latest data, the government has so far auctioned 68 mineral blocks which are likely to accrue an estimated revenue of Rs 1.99 lakh crore to state governments over a period of 50 years.

Industry body FICCI had earlier in April called for expediting auctions of mineral blocks with known or explored reserves, highlighting that the average of such sales has nosedived to around 15 mines per year after the amendment in the Mines and Minerals Development and Regulation Act.