Mineral Exploration Corporation not to sell mining data

Mineral auction will begins in October or November

GN Bureau | August 8, 2015


#public sector undertaking   #mines   #mineral  


As the first phase of non-coal mineral auction will begins in October or November, the government had done away with the policy of selling detailed exploration reports of state-owned Mineral Exploration Corporation (MECL).

Mines Minister Narendra Singh Tomar on Friday said that a committee under the additional secretary in the ministry, with representatives of private and public sector companies, will be formed to recommend a national mineral exploration policy.

Tomar did not say how many blocks might be auctioned. “Auctions have to be done by the states. They are preparing themselves on the field. As soon as it is over, they would begin the process,” he said. “After discussing various issues with 12 (mineral-bearing) states, we have come to the conclusion that the first phase of mineral auction will begin by this time period,” said mining secretaru Balvinder Kumar, the ministry’s secretary.

Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill in March, paving the way for auction of these mines. As mining is a state subject under the Constitution, auctions will be conducted by the states and the central government’s role will be limited to framing the rules to be followed in the process.

Tomar said the government had done away with the policy of selling detailed exploration reports of state-owned Mineral Exploration Corporation (MECL). “MECL has prepared 58 geological reports of detailed exploration, which will be offered free of cost to states, to aid and expedite the auction process,” he said.

According to a mines ministry press release, the government has spent close to Rs 350 crore as promotional grant for detailed exploration of 155 blocks of various minerals, and established about 5,600 million tonnes of mineral resources through MECL.

The minister and the secretary were addressing a mining leaders’ roundtable, organised by Confederation of Indian Industry.

Comments

 

Other News

Lost in Transmission: Why calls ‘drop’, what can be done about it

Random call drops across cellular networks has been a major nuisance for consumers. Despite the advent of technologies like 4G, 5G and users upgrading their phones, they continue face the same old problem of call drops. Earlier, with 2G, calling was the primary service from the mobile telephony firms, howe

India’s Semiconductor Mission takes giant leap

The union cabinet on Thursday approved the establishment of three semiconductor units under ‘Development of Semiconductors and Display Manufacturing Ecosystems in India’. Involving a total investment of nearly Rs 1.26 lakh crore, the three units  -- two in Gujarat, one in Assam – wil

Mumbai Airport: Less congestion, fewer delays, says MoCA

Mumbai is one of busiest airports in India, handling a large volume of domestic and international flights including military, non-scheduled and general aviation flights. Mumbai`s Chhatrapati Shivaji Maharaj International Airport (CSMIA) has two intersecting runways which cannot be operated

“900 tenders worth Rs 150 crore?” For ward-level works: BMC

BrihanMumbai municipal corporation is floating nearly 900 tenders worth of Rs 150 crore in the next 10 days, but that is only for ward-level civic works, the BMC clarified on Monday, reacting to reports in a section of media.    “Since there are 25 wards in BMC, it involves m

Elections 2024: Banks, post offices to chip in for voter education

In a first-of-its-kind initiative, Election Commission of India (ECI) on Monday signed a memorandum of understanding (MoU) with two prominent organisations, the Indian Banks’ Association (IBA) and the Department of Posts (DoP), to amplify its voter outreach and awareness efforts ahead of the forthcom

Charming tales of the Snakeman’s early years

Snakes, Drugs and Rock ’N’ Roll: My Early Years By Romulus Whitaker with Janaki Lenin HarperCollins, 400 pages, Rs 699

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter