Tuesday, 15 March 2016

Govt to auction 22 mineral blocks in April, May

The government today said it will auction 22 mineral blocks in April and May, including 14 iron ore blocks in Karnataka. 
"During April-May 2016, the Government will be auctioning 22 blocks, which includes two blocks of limestone in Chhattisgarh, 14 blocks of iron ore in Karnataka, 6 blocks of limestone in Andhra Pradesh," Mines Ministry said in a statement. 
It further said that for the second phase, during the next fiscal, 42 blocks have been identified by seven state governments for auction. 
They include 6 blocks (5 limestone and 1 Gold) in Chhattisgarh; 8 blocks - 4 limestone and 4 bauxite - in Gujarat, and 15 iron ore mines in Karnataka. 
In the first phase, 8 states like Andhra Pradesh, Karnataka and Chhattisgarh have notified 43 major mineral blocks for auctions, it added. 
So far, auction of two blocks of limestone in Jharkhand, two blocks of limestone and one block of gold in Chhattisgarh and one block of iron ore in Orissa has been held. 
"This reflects the fact that not only the government's decision to auction the mines was correct, but also proves that the revenue received to the State governments from auction is much more than the previously received royalty on minerals," it added.

Busoness Standard, 15th March, 2016, Kolkata

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