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States need to expedite auction of mines, says Union minister Pralhad Joshi

Union mines minister Pralhad Joshi said that many states have not auctioned a single mine even after seven years of the auction regime coming into force and urged the states to expedite auctions

mines auction | Pralhad Joshi

Press Trust of India  |  New Delhi 

Pralhad Joshi

Union mines minister on Tuesday said that many states have not auctioned a single mine even after seven years of the auction regime coming into force and urged the states to expedite auctions.

Speaking at the 5th Conclave on Mines & Minerals, he asked the states to unleash the full mineral potential to realise the true value of their resources.

However, some mineral rich states are lagging behind in auctioning mineral blocks and achieving actual potential, the minister said, adding that in many states, even after seven years of this auction regime, not even one mine has been auctioned.

"I once again appeal to state governments... lot of reforms have been done. My only request and appeal to you is to bring more and more mines into auction," he said.

For improving the ease of doing business, the government wants to bring more reforms in the mining sector which are industry-friendly and would bring more investments.

"We are already thinking to bring some amendments," Joshi said and assured that the mines ministry would very shortly remove the problem of royalty over royalty.

Madhya Pradesh and Rajasthan had submitted proposals for composite license through auction mechanism. These consists of one limestone block in Rajasthan and 19 various mineral blocks in Madhya Pradesh.

The mines ministry recently gave prior approval for the auctioning of these blocks.

"While we encourage more mining to reach our full mineral potential, we are also conscious of environmental consequences of mining activities," he stressed.

To promote sustainable mining, the ministry has introduced star ratings of mines for those mineral miners who are taking commendable steps in the direction of clean and sustainable mining.

(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: Tue, November 23 2021. 19:35 IST