Union Steel and Mines Minister Narendra Singh Tomar today (22 Sept’15) said that central govt. will start auction of 82 blocks in Nov’15. All the formalities for auction of mines bearing minerals like iron ore and bauxite have been completed and the auction process will start in November.
He added that 166 blocks have been identified for the auction by mineral bearing states, out of which 82 will be put under the hammer in 1st phase, which is likely to start in Nov’15. The Centre is ready to provide assistance to the states in the auction process
This was made possible after the MMDR Amendment Act, 2015 was passed in Mar’15, which stipulates auction as the only means to allow extraction of iron ore and other minerals.
Most of the iron ore mines being sold are from the state of Karnataka, which is known for its high quality ore. This will assist steelmakers in southern India, like JSW Steel who are deprieved of their own iron ore mines. The steel giant had to make its way to imports after mining activities were suspended in states of Odisha and Jharkhand.
-Sourced
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