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Auctions of 82 Mine Blocks on Cards : Indian Mining Sector to Gain Momentum

News

The Centre is likely to start the auction of 80-90 identified mine blocks by November and assist states facing problems in this process. About 146 blocks have been marked by the states, of which 82 blocks are likely to be auctioned in November, Union steel and mines minister Narendra Singh Tomar said.

Source: ET

SNP Insight

The plans to auctions blocks bearing minerals like iron ore, bauxite etc. comes as a boost to the already ailing mining industry. With the bidding process to come up in next one month the developers need to put in due deligence and conducive efforts for formalising their bids. As seen from the case of last coal block auctions highly aggressive can come up front in this case well. Thus it will be interesting to see the participation from private developers in due course of time.

Source: SNP Infra Research