Emami bags limestone blocks in R’sthan

    Limestone Blocks
    The Kolkata-based Emami Cement has recently bagged the first-ever non-coal mining lease through the auction route in Rajasthan and in the deal, the group will pay the state government around Rs. 300 for every tonne of limestone production from the Nagapur 3B1b Deh block that has an estimated reserve of 168.84 Million Ton (MT). In addition, it would have to pay royalty to the District Mineral Foundation and National Mineral Exploration Trust once the company starts mining, which might take a little over one-and-a-half years, considering the time required for land acquisition, to prepare the mining plan and to get environmental clearance, said sources, explaining that Emami Cement emerged as the highest bidder by offering to pay 60.09% of the IBM price per tonne. The reserve price for bidding was fixed at 7 percent of IBM price and the floor price was 16.59% of the IBM price. Auction of this single block is expected to yield Rs. 5,053-cr by way of bid-revenue in addition to royalty of Rs. 1,513-cr to the state, over a period of 50 years.
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