Millennium Post

Mines Ministry forms panel to identify reserves for auction

Following the President’s nod to the mines ordinance, the government has formed a nine-member committee to ascertain reserves in the mines to be put for auction.

“The committee shall prescribe parameters of evidence regarding existence of mineral contents in line with the requirements of the ordinance in unambiguous terms,” the Mines Ministry said Friday. The President had on January 12 promulgated the Mines and Minerals (Development and Regulation) Amendment Ordinance, 2015, paving the way for auctioning of mines containing minerals such as iron ore and bauxite. The nine-member committee would be chaired by Ranjan Sahai, Controller of Mines (Planning and Co-ordination), IBM.

“The Committee shall prescribe mineral-wise/deposit-wise parameters of evidence of existence of minerals contents,” it said.
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