Coal news and updates

5 states issue auction notices for 28 mineral blocks

India Coal Market Watch

December 4: The process of auction of mines for major minerals is moving fast and is expected to start soon, Mines and Steel Minister Narendra Singh Tomar has said.

Already five states have issued notices inviting expression of interest for auction of mines bearing major minerals and spread over 28 blocks for major minerals” the minister said.

The minister further added that the MMDR Act, 2015 was amended to bring in transparency in the auctions and now the thrust is on exploration.

The government is committed towards bringing in an attractive exploration policy to encourage private investment and expertise into the sector and has set up the National Mineral Exploration trust (NMET), he said.

Balvinder Kumar, Secretary, Ministry of Mines, said that, the draft National Mineral Exploration Policy will be ready in a few months.

The draft policy has addressed the current concerns before the sector and the ministry will soon notify the rules for atomic minerals under the mining law, he said, adding that the ministry is actively thinking of allowing private sector mining companies in this area.