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

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

Quick Summary:

Speaking to media after the inauguration of mines ministry pavilion at India International Trade Fair, Reddy said the government plans "to auction offshore minerals blocks in two to three months".

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 (Development and Regulation) Act, 2002, to provide an auction route for awarding production leases for offshore minerals.