GoI to auction 42 blocks in Phase II including one bauxite in Maharashtra

The Government of India will be auctioning a total of forty three blocks in the second phase of mineral auctions during 2016-17. These blocks have been identified by seven state governments for auction under the Mines & Minerals Development & Regulation (Amendment) Act, 2015.

The forty two blocks are spread across Chhattisgarh, Gujarat, Maharashtra - four blocks (one bauxite, iron ore, limestone, tungsten each), Odisha, Karnataka, Jharkhand, and Rajasthan. This includes one bauxite mining block out of four identified in Maharashtra.

Speaking in Lok Sabha on Monday, union steel & mines minister Narendra Singh Tomar also said that in April-May 2016, twenty two mineral blocks will be auctioned under phase one, in which eight states have notified forty three major mineral blocks for auctions. Of these forty three blocks in phase one, Maharashtra as four blocks, one each of bauxite, iron ore, limestone and tungsten, Odisha three blocks (one iron ore, two limestone) and Rajasthan - three limestone blocks.

So far, auction of two blocks of limestone in Jharkhand, two blocks of limestone and on block of gold in Chhattisgarh and one block of iron ore in Odisha was held which has proved to be quite successful, the minister added.

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.