States to put 100 more mines on auction by year-end

States will offer 100 additional mines bearing minerals such as iron ore, bauxite and limestone for auction by 2016-end, Steel and Mines Minister Narendra Singh Tomar said on Thursday. The Minister said that states have so far put 43 mines on the block, of which six have been auctioned and the total revenue expected from the sale is Rs 18,146 crore.

"Apart from these, 43 more would be auctioned. By the end of the year we plan to issue notification of a total of 100 mines," Tomar told reporters on the sidelines of the first Maritime India Summit here. He said that his ministry will work with Shipping Ministry for ship building, repairing and dismantling etc. "If the shipping industry grows, steel demand would automatically grow. Waterways will develop and reduce the logistic costs," he noted. 

On District Mineral Foundation Fund, the minister said it would be used for the benefit of those impacted by mining. The living conditions of tribals would improve, employment would be created. There are 11 mineral-rich states and DMF has been constituted in eight states. Remaining three will form it soon, he added.

On the state of the steel industry, Tomar said government has taken steps to boost the steel sector. "China has surplus steel production that is why it was dumping steel in India at low prices. That is why we have imposed safeguard duty and anti-dumping and MIP. After MIP there are positive results industry will be free from the stress soon," he added.