The Andhra Pradesh government plans to float global tenders for sale of baryte and has appointed Capital Fortunes as transaction adviser, official sources said.
Baryte is the mineral form of barium sulphate and is mainly used in oil and gas exploration. The Mangampet deposit in Kadapa district of Andhra Pradesh is the single largest baryte deposit in the world, according to officials.
Chief secretary I Y R Krishna Rao said at an official meeting today that the sale of baryte will be linked to international prices on a floating basis.
The government had already cancelled an earlier order on grant of lease of baryte mines and set up a technical committee to process the tenders for sale of baryte in a transparent manner, he said.
Rao said the Mining Department has also been asked to study feasibility of setting up solar fencing at the baryte mining area, and achieve greater automation in grading, loading and transportation.
The department has also been advised to set up surveillance cameras in mining area, take up computerisation of the records and promote RFID tagging for the vehicles carrying the mineral.
Principal Secretary J S Venkateswara Prasad and other officials of industries department attended the meeting.
