FY20 to witness auctions of most mineral blocks since inception of new MMDR

16 blocks already auctioned this fiscal, 43 others notified

Auctions of 59 mineral blocks are set to be completed in FY20, making it the most successful year for online auctions since the enactment of the amended Mines and Minerals - Development & Regulation (MMDR), 2015.

In this fiscal, 16 blocks have already been auctioned. Notice Inviting Tenders (NITs) have been issued for 43 others and auction formalities in respect of these blocks are expected to be completed before the close of FY20.

Auctions first took off in 2015-16 after a recast MMDR killed the practice of discretionary allotments and mandated award of mineral resources through a transparent system of