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11 mineral blocks to start production by year-end: Tomar

Press Trust of India  |  Indore 

As many as 11 mineral blocks of the total 43 auctioned will start production by the year-end, Mines said today.

The work was being carried out in around 102 mineral blocks and the auction of these mines will happen soon, the said.

He was speaking during National Conclave on Mines and Minerals here.

The states, he said, will earn a revenue of Rs 1.55 lakh crore over the lease period from 43 auctioned mines, said. The mineral block rules were amended in order to give a push to auction.

A total of 11 PSUs have been notified so that they could take up exploration, the informed.

The mines ministry, said, was working on allowing private miners for exploration. At present, the exploration of mines is carried out by Geological Survey of (GSI) and (MECL).

On the leases which are expiring in 2020, Tomar said: "There is a need to speed up work in this direction. MoEF, Niti Aayog and PMO all are working in this direction".

He further said that the draft policy on has been made and the states were deliberating on it. The auction of Bunder diamond project in will happen soon, Minister told reporters here.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 13 2018. 16:35 IST