How fair is India’s non-fuel mine auction process?
3 years, 4 months ago

How fair is India’s non-fuel mine auction process?

Hindustan Times  

The Mines and Minerals Amendment Act, 2015 ended the first-come, first-served system of mining allocations and has brought in an auctions regime. These include iron ore, limestone, iron ore & manganese, bauxite, manganese, graphite, gold, chromite, copper, and diamond –technically qualified bidders participated in an ascending forward online electronic auction and bid on the percentage of the value of minerals that would be despatched over the lifespan of the mining operation. The analysis shows that of the 114 non-fuel mineral auctions held so far, many received excessively high bids, bids higher than even the estimated value of reserves. The aftermath of the auctions appears to be unfavourable with regard to boosting mining production in India: • Some auctioned leases were surrendered, even before mining operations could begin.

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History of this topic

Govt plans to auction offshore mineral blocks in 2-3 months: G Kishan Reddy
2 months ago

Govt plans to auction offshore mineral blocks in 2-3 months: G Kishan Reddy

Deccan Chronicle  

New Delhi: The government is planning to begin the auction of offshore mineral blocks in the next two to three months and around 10 such mines are likely to be auctioned in the first phase, coal and mines minister G Kishan Reddy said on Thursday. The government amended the Offshore Areas Mineral Act, 2002, to provide an auction route for …

Centre takes charge of mineral exploration licences as states falter
2 months ago

Centre takes charge of mineral exploration licences as states falter

Live Mint  

New Delhi: The Centre is set to take over the auctioning of exploration licences for critical and deep-seated minerals after states failed to attract junior mining companies to discover mineral resources in the country. “…the Central Government shall henceforth notify the mineral blocks and conduct their auction for grant of exploration licence," an order issued by the ministry of mines …

Government scraps auction of 3 critical mineral blocks
5 months, 2 weeks ago

Government scraps auction of 3 critical mineral blocks

The Hindu  

The government has scrapped the auction of three critical mineral blocks, including a lithium mine in Jammu and Kashmir, under the third tranche of sale of mines due to a lower-than-required number of bidders. The Ministry, on March 14, put on sale seven critical mineral blocks in the third round of auction. These seven blocks pertain to critical minerals such …

Mining majors give a miss to country's maiden critical minerals auction
6 months, 3 weeks ago

Mining majors give a miss to country's maiden critical minerals auction

Business Standard  

The maiden, critical mineral auction in India has failed to enthuse the mining industry, with the first tranche achieving less than a 50 per cent success rate and the auction of several mines was cancelled owing to low response. Union Minister for Coal and Mines G Kishan Reddy announced the results and launched the fourth round of auction of critical …

Coal Auctions: Singareni Interests Safe, Says Kishan Reddy
6 months, 3 weeks ago

Coal Auctions: Singareni Interests Safe, Says Kishan Reddy

Deccan Chronicle  

Hyderabad: Refuting allegations that the coal auctions are detrimental to the interests of state-owned Singareni Collieries Company Limited, Union minister of coal and mines G. Kishan Reddy on Friday reiterated that the interests of Telangana and that of Singareni and its workforce will not be compromised. Speaking at the launch ceremony of the 10th tranche of commercial coal mine auctions, …

Kishan Reddy launches 60 coal block auctions
6 months, 3 weeks ago

Kishan Reddy launches 60 coal block auctions

Deccan Chronicle  

Hyderabad: In a significant move to enhance domestic coal production and ensure energy security for the nation, the Ministry of Coal launched the next tranche of coal block auctions here on Friday. The MoC has created a Single Window Clearance System portal to streamline obtaining clearances for coal mines and boost coal production through a single gateway, supporting progress and …

Centre asks Telangana govt to auction at least six mineral blocks by June 30
7 months ago

Centre asks Telangana govt to auction at least six mineral blocks by June 30

Deccan Chronicle  

The mines ministry has flagged that the Telangana government failed to auction any mineral blocks in past nine years and asked the state to put at least six mines on sale by the end of this month. These blocks consist of five iron ore mines, five limestone blocks and one manganese block.Till date not even a single block has been …

Government plans to auction 22 mineral blocks in next two months
2 years, 3 months ago

Government plans to auction 22 mineral blocks in next two months

India TV News  

Highlights Govt plans to auction 22 mineral blocks in Maharashtra, UP and Goa in November and December The mines to be auctioned include 6 iron ore blocks, 3 blocks each of limestone and gold The notice inviting tenders for the blocks were floated in September Mineral blocks auction : The government plans to auction 22 mineral blocks in Maharashtra, Uttar …

Odisha suffering losses worth crores due to BJD govt - mine owners nexus, claims BJP MP
2 years, 4 months ago

Odisha suffering losses worth crores due to BJD govt - mine owners nexus, claims BJP MP

Firstpost  

BJP MP Aparajita Sarangi claims that the state government allowed ‘misdeclaration’ of iron ore quality being produced in some mines auctioned recently Bhubaneswar: Odisha Bhartiya Janata Party MP Aparajita Sarangi has claimed that the state’s exchequer was suffering losses to the tune of crores of rupees due to the Biju Janata Dal government’s ‘unholy nexus with mine owners’. Sarangi, a …

Parliament Passes Mines and Minerals (Development and Regulation) Amendment Bill, 2021
3 years, 9 months ago

Parliament Passes Mines and Minerals (Development and Regulation) Amendment Bill, 2021

Live Law  

The Rajya Sabha on Monday passed the Mines and Minerals Amendment Bill, 2021 by voice vote. The Bill seeks to amend the Mines and Minerals Act, 1957 and further regulate the mining sector in India by: Permitting removal of restriction on end-use of minerals; Enabling captive mines to sell up to 50% of their annual mineral production in open markets; …

India’s mining sector to witness reforms, flurry of activities in 2021
4 years ago

India’s mining sector to witness reforms, flurry of activities in 2021

Hindustan Times  

The country’s mining sector will see “hectic activities” in the new year with the central government’s approvals for pending mining reforms expected in January itself and efforts continuing to bolster overall mineral output. The country’s mining sector will see “hectic activities” in the new year with the central government’s approvals for pending mining reforms expected in January The reforms will …

Neither Centre nor state have right to mine coal in eco-sensitive zones, says Supreme Court
4 years, 3 months ago

Neither Centre nor state have right to mine coal in eco-sensitive zones, says Supreme Court

Firstpost  

The apex court made the remark while hearing Jharkhand government’s pleas challenging the Centre’s decision to auction coal blocks for commercial mining New Delhi: The Supreme Court on Wednesday observed that if an area falls under eco-sensitive zone then neither the Centre nor the state government will have the right to mine it. The remark was made by the top …

Commercial Coal Mining: 278 Tender Documents Purchased by Prospective Bidders
4 years, 3 months ago

Commercial Coal Mining: 278 Tender Documents Purchased by Prospective Bidders

News 18  

The government on Monday said 278 tender documents have been purchased by the prospective bidders with regard to the coal blocks put up for auction under commercial mining. "In the present tranche of coal block auctions, 278 tender documents have been purchased by the prospective bidders in respect of 38 coal mines," the coal ministry said in a statement. The …

Govt Revises List, 38 Coal Blocks to Be Auctioned for Commercial Mining: Coal Ministry
4 years, 4 months ago

Govt Revises List, 38 Coal Blocks to Be Auctioned for Commercial Mining: Coal Ministry

News 18  

New Delhi: The Coal Ministry on Thursday said it has revised the list of mines to be auctioned for commercial mining and now 38 blocks would go under the hammer instead of 41 mines announced earlier. The coal ministry had earlier withdrawn Bander mine in Chandrapur district of Maharashtra from the list of 41 coal blocks put up for auction …

Auction of coal mines: Against all reason
4 years, 6 months ago

Auction of coal mines: Against all reason

The Hindu  

IN one the biggest protest actions during the lockdown, five and a half lakh coal workers of Coal India Limited, a public sector undertaking, and Singareni Collieries Company Limited, which is jointly owned by the Union government and the government of Telangana, will go on strike for three days from July 2 to protest against the decision of the National …

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