Govt may auction six mineral blocks in February, to boost mining sector

The four iron ore blocks, situated in Chhattisgarh, are likely to be auctioned on Tuesday, according to the mines ministry

Metals and Mining

Metals and Mining

Press Trust of India New Delhi
The government is likely to put on sale six mineral blocks, including four iron ore mines, in the current month.
The move would give a boost to mining sector's contribution to the country's gross domestic product.
The four iron ore blocks, situated in Chhattisgarh, are likely to be auctioned on Tuesday, according to the mines ministry.
The notice inviting tenders for the mines -- Chhitpuri B iron ore block, Gomter Wakeli, Bijapur, Hahaladdi, North Bastar Kanker, Lohhater, North Bastar Kanker -- were floated last year.
The auction of Bandiamottu block in Andhra Pradesh, which has lead and associated minerals such as nickel, cobalt and copper, is also likely to be conducted in February.
The notice inviting tender for the block was issued in December last year.
Besides, the auction of Udagi Block -- a limestone mine in Karnataka -- has also been extended to be held in February, the ministry said.
Since the new procedure for auctioning of mineral blocks was introduced in 2015, a total of 239 mines have been auctioned so far. In the current fiscal so far 85 blocks have been put on sale, while in the last financial year 46 mines were auctioned.
The government is also in the process of identifying mineral blocks like nickel in the sea and would gradually put them on sale, mines secretary Vivek Bharadwaj said on Friday.
The mines ministry is also amending the Offshore Areas Mineral (Development and Regulation) Act, 2002 and has sought the stakeholders' views on the same.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 19 2023 | 4:47 PM IST

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