GSI to submit reports on 18 mineral blocks by Dec to fast-track auctions

Though Rs 10.48 billion has been collected as on July end under NMET, fund utilisation remains slow, with only 62 projects being sanctioned

With exploration emerging as a key constraint in the swift auctions of mineral blocks, the Geological Survey of India (GSI) will provide geological reports to states in respect of 18 blocks by December this year.

Additionally, GSI is also expected to offer reports on 13 more blocks by December next year. The mineral blocks readied by GSI contain deposits of copper, gold, manganese, iron ore limestone and bauxite.

At present, two central sector agencies -- GSI and Mineral Exploration Corporation Ltd (MECL) -- are predominantly engaged in mineral exploration activities. Though the state directorates of mining & geology are tasked with exploration