Odisha Mineral Auction

The government plans to put on sale next month six mineral blocks in the states of Odisha and Rajasthan. Of these six blocks to be auctioned, three are bauxite mines and three are limestone blocks. The three bauxite blocks -- Ballada, Kutrumali and Sijimali -- and two limestone mines -- Garramura and Uskalabgu -- in Odisha are virgin blocks, according to a latest report by the mines ministry. The remaining mine is Nimana-Duniya limestone block in Kota, Rajasthan. The notice inviting tender for all the six blocks was floated in the month of November. Since the amendment to MMDR Act, 1957 in 2015, a total of 216 mineral blocks have been auctioned till November 30 across 10 states. Three mineral blocks -- two limestone and one iron ore -- in Rajasthan and Chhattisgarh were successfully auctioned last month. The government started the process of allocating mineral blocks through auctions in 2015-16. The ministry has expressed hope of auctioning 500 mines by the end of 2024. The Cen

Recently, Odisha successfully conducted electronic auctions of 19 lapsing iron and manganese ore blocks now run by merchant or non-captive iron ore blocks

Stakeholders feel these blocks may lose out to the lapsing merchant blocks where it will be easier to recommence mining and achieve seamless production and despatch

Of the seven mines to go under the hammer, four are limestone blocks, two are chromite ore mines and one is graphite block

State has auctioned three iron ore blocks and a few limestone deposits. Essar Steel, Bhushan Steel and Bhushan Power & Steel have emerged as successful bidders in online auctions of three iron ore blo

Under the new Rules, states have the flexibility of allocating the block in the second round itself even if there are less than three bidders.