'Bids invited for auction of 26 iron ore blocks'
New Delhi: Mines Minister Pralhad Joshi on Monday said that applications have been invited for auction of 26 more iron ore mines.
"Notice Inviting Tenders for 26 more iron blocks have been issued," Joshi said in a reply to a question in the Rajya Sabha.
Since 2015, 24 iron ore blocks have been auctioned, the minister said.
Iron ore is a key raw material used in steel making.
As per available information, the consumption of iron ore was 166 million tonnes in 2016-17, 175 million tonnes in 2017-18 and 189 million tonnes during 2018-19, the minister said.
The government has notified Mines and Minerals (Development and Regulation) Amendment Act, 2015 to streamline grant of mining leases so as to maintain sufficient availability of iron ore for steel sector, the government had earlier said.