2019 dead­line for min­ing auc­tions

The Hindu Business Line - - FRONT PAGE - PTI

The Cen­tre has set a win­dow of two years to start the auc­tion of min­ing leases due to ex­pire in March 2020, Mines Sec­re­tary Arun Ku­mar said here on Mon­day. “Our aim is the auc­tion starts in 2019 and not in 2020, so that the suc­cess­ful bid­der has the time to ar­range fi­nance, other re­sources and ne­go­ti­a­tions,” he said at the 51st AGM of the Fed­er­a­tion of In­dian Min­eral In­dus­tries (FIMI). FIMI had ear­lier ex­pressed con­cerns on the ex­piry of the ex­ist­ing min­ing leases in March 2020, which it said would af­fect avail­abil­ity of raw ma­te­ri­als for the user in­dus­tries.

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