The government plans to auction 22 ore in the states of Maharashtra, Uttar Pradesh and Goa in November and December.
The mines to be auctioned consist of six blocks of iron ore, three blocks of limestone and gold each, two blocks of bauxite, one block of copper, phosphorus and one block of gluconite, according to the Mines Ministry.
An announcement of a bid invitation for the blog was floated in September.
Meanwhile, the Maharashtra mine will be auctioned next month. Mines in Uttar Pradesh and Goa will go on sale in December.
So far, over 180 Ore blocks have been sold since the start of the Ore Block Auction system. The government started the process of allocation of mineral blocks through auctions in 2015-2016.
The ministry has expressed its hopes of auctioning 500 mines by the end of 2024.
The center aims to increase the mining sector’s contribution to the country’s gross domestic product (GDP) to 5 percent from the current 2.5 percent.
The ministry has also informed the mineral’s second amendment rules. (Proof of Mineral Content) Second Amendment Rule 2021 and Mineral Fourth Amendment Rule (Auction) 2021
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