11 min­eral blocks to start production by year-end: To­mar

Business Standard - - ECONOMY -

As many as 11 min­eral blocks of the 43 auc­tioned will start production by the year-end, Mines Min­is­ter Naren­dra Singh To­mar said on Fri­day. The work was be­ing car­ried out in about 102 min­eral blocks and the auc­tion of th­ese mines will hap­pen soon, the min­is­ter said. He was speak­ing dur­ing Na­tional Con­clave on Mines and Min­er­als in In­dore. The states, he said, will earn a rev­enue of ~1.55 tril­lion over the lease pe­riod from 43 auc­tioned mines, To­mar said. The min­eral block rules were amended in or­der to give a push to auc­tion. Eleven PSUs have been no­ti­fied so that they could take up ex­plo­ration, the min­is­ter said. The mines min­istry, To­mar said, was work­ing on al­low­ing pri­vate min­ers for ex­plo­ration. At present, the ex­plo­ration of mines is car­ried out by Ge­o­log­i­cal Survey of In­dia and Min­eral Ex­plo­ration Cor­po­ra­tion Limited.

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