KOLKATA | March 15, 2016: The government will be auctioning a total of 42 blocks in the second phase of mineral auctions during 2016-17. These blocks have been identified by seven state governments for auction under the Mines & Minerals Development & Regulation (Amendment) Act, 2015.

The 42 blocks are spread across Chhattisgarh - where six blocks (five limestone and one gold) are on offer, Gujarat - eight blocks (four limestone and four bauxite), Maharashtra - four (one bauxite, iron ore, limestone, tungsten each), Odisha - three (one iron ore, two limestone), Karnataka - fifteen iron ore, Jharkhand - three (two copper and one gold) and Rajasthan - three blocks of limestone.

Speaking in Lok Sabha on Monday, union steel & mines minister Narendra Singh Tomar also said that in April-May 2016, twenty two mineral blocks will be auctioned under phase 1, in which eight states have notified 43 major mineral blocks for auctions.

This would include two blocks of limestone in Chhattisgarh, fourteen blocks of iron ore in Karnataka, six blocks of limestone in Andhra Pradesh.

Of the 43 blocks in phase one, Andhra Pradesh has six limestone blocks on offer, Chhattisgarh - five blocks (four limestone and one gold) and Gujarat - five limestone blocks, Jharkhand - where there are three blocks on offer (two limestone, one gold), Karnataka - 14 iron ore blocks, Maharashtra - four blocks, one each of bauxite, iron ore, limestone and tungsten, Odisha three blocks (one iron ore, two limestone) and Rajasthan - three limestone blocks.

So far, auction of two blocks of limestone in Jharkhand, two blocks of limestone and on block of gold in Chhattisgarh and one block of iron ore in Odisha was held which has proved to be quite successful, the minister added.

This reflects the fact that not only the government's decision to auction the mines was correct, but also proves that the revenue received to the state governments from auction is much more than the previously received royalty on minerals.

(Source: http://economictimes.indiatimes.com/)