Monday, October 3, 2022

Govt is putting 7 mineral blocks up for auction in Odisha

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New Delhi: The Centre is putting seven mineral blocks in Odisha up for auction from October 22 to November 1. The mines have total reserves of 148.011 million tonnes (MT). Out of the seven mineral blocks that will be up for auction in Odisha, four are limestone blocks, two are chromite ore mines and one is graphite block, the Ministry of Mines said.

Govt will follow auction regime for mineral blocks

Mining Minister Pralhad Joshi had said that the government is not going to go back to the first-come, first-served system for granting leases as auction regime was the law of the land. The statement had come after mining body Federation of Indian Mineral Industries (FIMI) had pitched for the implementation of the original system.

Mines Secretary Anil Mukim, too, opined that auctioning mineral mines was a very transparent process and state governments were fully geared to carry forward the process.
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More than 65 mines were auctioned and nine mines operationalised, he added.

The backdrop

In September, FIMI had said that keeping in mind the dampening results of auctioning of mineral blocks so far, the private sector should be the main source of investment in reconnaissance, exploration and mining by following the system of first-come, first-served for granting mineral concessions.

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