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Business EconomyPosted at: May 30 2016 7:38PM


E-auction of 17 mineral blocks forced to deferred due to insufficient bids

New Delhi, May 30 (UNI) States of Gujarat, Maharashtra, Rajasthan, Odisha, Jharkhand and Chhattisgarh are expeditiously putting up the mineral blocks for auction but the e-auction of 17 mineral blocks had to be deferred due to insufficient number of applications of initial bids.
According to Mines Ministry, it was revealed at a national meet of mining ministers which was organised recently in Jaipur regarding the issues relating to the sector.
The states concerned said it happened due to the quantity and grade of ore, quality of the mineralisation studies, land ownership pattern, general dull market scenario and restrictive end use conditions imposed by them in the bidding documents.
The states added that they are again in the process of resolving these issues and would be re-tendering the blocks soon.
Keeping the process in mind, the Ministry has advised state governments to start using provisions of amended MMDR Act, 2015 pertaining to curbing illegal mining to set deterrent examples. Though ultimate aim should be to create an environment where miners themselves understand, own and fulfill their socio-economic responsibilities.
For this purpose, Mines Ministry has launched Star Rating System for Mines to recognize self–driven top performers who adhere to best practices. Mining Ministers from nine states, Chhattisgarh, Haryana, Karnataka, Madhya Pradesh, Odisha, Punjab, Rajasthan, Uttar Pradesh and Nagaland participated in the meeting.
States of Andhra Pradesh, Chhattisgarh, Goa, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana have been asked to expedite the matter within the stipulated time limit.
UNI ADP SW SB 1938
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