Steel units seek easier norms for expeditious auction of mineral blocks

Want G2 exploration norms relaxed; 75% of India's steel producers don't have captive iron ore blocks as opposed to China where 70% have captive blocks

Steel units have asked for relaxing the mandatory G2 level exploration norms for conduct of mineral blocks auctions. Strict adherence to the G2 exploration norm is slowing the pace of auctions, they feel.

“At present, auctions of mineral blocks are contingent on meeting the G2 exploration norms. But, these norms are indicative and there is provision for relaxation of the exploration norms under Rule 8 of Minerals (Evidence of Mineral Contents) Rules, 2015.

Mineral blocks of adequate dimensions can be put up for auctions by complying with G1 exploration level”, said an official with a steel company.

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