NDA government plans to put on sale 100 mining blocks.
The auction of blocks would be done for the exploration purpose on the revenue sharing basis. (Representational image)
New Delhi: Close on the heels of initiating the auction of mines, the NDA government, in a first of its kind exercise, plans to put on sale 100 mining blocks, which also include diamond reserves. According to sources, the auction of blocks would be done for the exploration purpose on the revenue sharing basis.
The mines ministry has already started the process of identifying the prospective blocks seven months ago and is now ready with the complete geographical details of the reserves, sources said. Normally mines are put up for auction, but it would be for the first time that blocks ranging from 100 to 1,000 sq km consisting of gold, diamond and iron ore would be offered for bidding, sources said.
( Source : Deccan Chronicle. )
Next Story
