Economy

16 iron ore, 23 limestone blocks up for auction

PTI New Delhi | Updated on January 19, 2018 Published on January 19, 2016

Mineral bearing states Odisha, Karnataka, Gujarat, Rajasthan and Maharashtra have put 16 iron ore and 23 limestone mines under the hammer for the first phase of auction.

While Karnataka has put up 14 iron ore mines, Maharashtra and Odisha have offered one each, sources said.

In the case of limestone, Andhra Pradesh has put up six blocks for auction followed by Gujarat (5), Chhattisgarh (4), Rajasthan (3), Odisha and Jharkhand two each and Maharashtra had placed one block under the hammer, they added.

The number of iron ore mines is expected to increase with one additional block to be put for auction by Karnataka, four by Odisha, a senior government official said.

Limestone blocks will also increase with Madhya Pradesh set to offer three mines, he added.

As per the market estimates, total cement grade limestone reserve available is around 89,862 million tonnes.

According to government data, domestic production of iron ore was 169 million tonnes (MT) in 2011—12 and 137 MT in 2012—13 against the consumption of 101 MT and 103 MT, respectively.

Centre expects the 12 mineral-producing states to offer a as many as 70 mines producing minerals such as Iron ore, Limestone and Bauxite in the first phase of auctions, expected to be concluded by March this year.

In March 2015, Parliament passed the Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2015, which paves the way for states to auction iron ore and non-coal mineral mines.

Published on January 19, 2016
This article is closed for comments.
Please Email the Editor