Within the next two months, the government intends to sell 22 mineral blocks across 3 states. In November and December, the three mineral blocks are in Maharashtra, Uttar Pradesh, and Goa.
According to the mining ministry, the mines up for auction include six blocks of iron ore, three blocks each of gold and limestone, two blocks of bauxite, and one block of each copper, phosphorite, and glauconite.
Details on the government intends to sell 22 mineral blocks across 3 states within the next two months
In September, a notice requesting bids for the blocks was published.
The mines in Goa and Uttar Pradesh will be put up for sale in December, while those in Maharashtra will be auctioned off next month.
Since the mineral block auctioning system started, more than 180 mineral blocks have been placed up for sale. In 2015–16, the government began the process of assigning mining blocks via auctions.
By the end of 2024, the government wants to auction off 500 mines.
The Center wants the mining industry’s share of the nation’s Gross Domestic Product (GDP) to rise from the current 2.5% to 5%.
The Minerals (Evidence of Mineral Contents) Second Amendment Rules, 2021 and the Mineral (Auction) Fourth Amendment Rules, 2021 have also been informed by the Ministry.