Millennium Post

Centre to showcase mineral blocks to be auctioned in FY19

New Delhi: The mines ministry will next month showcase mineral blocks to be auctioned in the current financial year to attract potential investors.

"The minister of mines has decided to organise 4th National Conclave on Mines and Minerals for showcasing blocks which will be auctioned by the states in FY2018-19 to potential investors," the ministry said in a letter to mineral-rich states.

The Centre has asked the states to give representations for showcasing blocks that would be auctioned in this fiscal.

"Further technical sessions will be held on the various aspects in the process of auctions such as geological reserves (GR) preparation, transaction advisory for tender document preparation, auction platforms and also post auction process such as preparation of mining plan, environment clearance forest clearance, etc," the letter said. The mines ministry has also asked the states to approach potential investors such as miners and downstream and allied mineral industry to attend the conclave.

The Centre earlier has sought from states like Chhattisgarh, Goa, Jharkhand and Odisha the list of mineral blocks likely to be auctioned in the current fiscal.

Minister of State for Mines and Coal Haribhai Parthibhai Chaudhary had said in March that a total of 36 mineral blocks are at various stages of auction process.

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