FIMI urges govt to take steps speed up auction activity

Noting that only 44 of 88 non-coal mineral blocks could be auctioned even after making 145 attempts, mining body FIMI today urged the government to take corrective measures to prevent such situations.

While the government has taken many proactive initiatives for the growth of the mineral sector, there are numerous challenges being faced by the industry, including poor response towards blocks put up for auction and delay in starting operations at an already auctioned mine, the Federation of Indian Mineral Industries (FIMI) said.

"As on July 3, 2018, 88 non-coal mineral blocks were notified for auctions for which 145 attempts were made but the response has not been enthusiastic as only 44 mineral blocks could be auctioned successfully ... Similarly, in respect of coal mines, out of 83 coal blocks allocated so far(31 for auction and 52 for allotment) during last 3-4 years, only eight mines have come into operation," the FIMI said in a statement.

It urged the government to ensure steps and corrective measures to bring the auctioned blocks into production with the least transition time.

And to make this happen, the body suggested "an in-principle approval for the required forest and environment clearances besides acquisition of land may be in place while offering the mineral blocks for auction."