Industry want flexibility in mineral use under end-use auction

In June, the Chhattisgarh govt informed the Union mines ministry that it had identified 11 mines for auction during 2017-18

Megha Manchanda  |  New Delhi 

The draft mineral auction rules propose that companies be granted relaxation to sell 10 per cent of extracted minerals in the open market. But the industry feels this is insufficient to draw the private sector, demanding full discretion over mines and their output. Production from mines reserved for companies that have end-use plants cannot be used for any other purpose. The Mines and Minerals (Development & Regulation) Act (MMDR Act) makes a distinction between mines meant for captive use and those for outright sale of the mineral. Vijay Kumar, former Union mines secretary, is ...

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First Published: Sat, September 16 2017. 01:09 IST