Indian Mines Ministry pushes for expedited process towards timely auctions
Date: Mar 30, 2018
he Indian government has set a deadline of April 1 next year for the completion of general exploration by 288 merchant mining leases that are slated to expire on March 31, 2020.
In a statement, the Mines Ministry said that the auction process for these leases has to be initiated well in advance of the 2020 expiry date to ensure a seamless transition.
“The rules mandate that exploration up to G2 level be carried out in the mining leases expiring, and the rule also lays down the timelines of the exploration plant prepared with approval of Indian Bureau of Mines,” the Ministry statement said.
As reported earlier this month, with barely 24 months left before the expiry of leases for 348 non-captive mineral mines, just two Indian states have been able to submit reports to establish a semblance of readiness to conduct fresh auctions and continuation of operations of these mines without disruptions.
