Five mine blocks up for grab in Odisha

    Five mine blocks up for grab in Odisha
    Making the most out of the recent easing of norms in mine blocks auctioning, the Odisha government has decided to put five mineral blocks under the hammer and is in the process of issuing Notice Inviting Tenders (NIT) for three iron ore, one manganese and one graphite block very shortly. The auctions would be conducted according to the revised Rules issued by the Union mines ministry, said official sources. Under the new norms, states have the flexibility of allocating the block in the second round itself even if there are less than three bidders. This provision is expected to make the auctioning process less cumbersome and will help states to auction mineral blocks quickly. Moreover, under the amended rules, miners would be able to dispose of 25 per cent of dumps which are not used for captive purposes and that the new rules also have the provision for adjustment of upfront premium against due payments of the miner at the earliest.
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