Business Standard

Monday, January 06, 2025 | 01:51 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Rules, ecology, ultra-infested zones take toll on iron ore block auctions

Only 17 assets sold since new MMDR Act; other pain points in auction process include exhorbitant pricing, poor mineral reserves

Chart
Premium

Jayajit Dash Bhubaneswar
Iron ore auctions in the country are losing their momentum, dogged by issues ranging from regulatory to environment and threat posed by the outlawed ultras.

Since the enactment of the new Mines and Minerals Development & Regulation (MMDR) Act 2015, only 17 iron ore blocks could be auctioned. The list of auctioned deposits include 12 operative blocks offered for bidding in Karnataka. Auctions in the southern state were done conforming to a Supreme Court order pronounced before the revised MMDR Act was enforced.

The price of acquiring these auctioned assets was deterring, an industry source said, citing that eight of

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in