Jharkhand to put up 18 iron ore mines for auction next month: Official

Eighteen iron ore blocks in Jharkhand having a reserve of around 250 million tonnes will go under the hammer next month, an official said Thursday.

The announcement came after the government Wednesday said there is no shortage of iron ore in the country.

"We are going to have 18 blocks (iron ore) prepared for auctions in the near future. Eighteen blocks would be put for auction," Jharkhand Deputy Director Mines Arun Kumar said during an event organised by Indian Chamber of Commerce.

On the sidelines, when asked about the timings of the auction, Kumar said that auction would happen in July.

Stressing on the need for optimal utilisation of natural resources, he said that in its absence the target of 300 million tonnes of steel output (by 2030) is not possible.

Kumar also said that Jharkhand has good infrastructure, sufficient water resources and single window system essential for industrial development.

Of the total 64 mineral blocks auctioned so far, 20 are iron ore blocks having a reserve of 583.057 million tonnes (MT), Mines Minister Pralhad Joshi had Wednesday said in a written reply to the Lok Sabha.