Government plans mega auction of 130-140 mineral block in FY23
4Government plans to auction 130-140 mineral blocks under asset monetisation plan this year. States have been asked to identify such mineral blocks and speed up auction process. Government has targeted to auction 761 mineral blocks under National asset monetisation pipeline by 2025. ET Now’s Prakash Priyadarshi has more details
EXCLUSIVE SOURCES
Government plans mega auction of 130-140 mineral block in FY23
The mineral blocks to be auctioned are of Iron ore, Bauxite, Zinc, Copper, and manganese
States have been asked to identify such blocks and speed up auction process
Government plans to speed up mineral block auction to cut down Imports
Because of global supply disruption, metal prices are skyrocketing
Additional incentives will be given to attract private investments
Rules related to forest clearances from captive mines are simplified
50% of production from captive mines will be allowed to be sold in open market
Alert- Domestic production of minerals are one third of imported minerals
Alert: Approx $107 billion worth of minerals imported in 2020
#mineralblock #Auction #mines
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