Business

Odisha Government To Auction Four Mines

NEWS WORLD INDIA | 0
96
| } October 17 , 2016 , 19:08 IST
[caption id="attachment_232070" align="aligncenter" width="700"]Representational Image of a coal mine. Representational Image of a coal mine.[/caption] The Odisha government on October 17, said it would issue a notification for e-auction of four mines in the state within two-three days. "We would issue notification for the auction of four mines in two-three days. Once the notification is issued, the bidders would be invited to participate in the e-auction process," said Steel and Mines Minister Prafulla Mallick. He said three limestone mines and one manganese mine located in Rayagada, Nuapada and Malkangiri districts would be auctioned. Also Read: Telecom Spectrum Auction Leaves 60% Airwaves Unsold He said reserve and bidding price of these mines has been decided. The state government has auctioned only one iron ore mines- Ghorhaburhani-Sagasahi iron ore block so far under the amended Mines and Mineral Development and Regulation (MMDR) Act, 2015. Essar Steel bagged the first iron ore block offered for e-auction in March this year, upstaging strong contenders like Tata Steel, Jindal Steel & Power Ltd (JSPL) and JSW Steel. Recently, the Centre had asked the state government to expedite the mining auction process as Odisha is way behind in the auctioning process compared to other mineral bearing states.

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