As many as 11 mineral blocks of the total 43 auctioned will start production by the year-end, Mines Minister Narendra Singh Tomar said today.
He was speaking during National Conclave on Mines and Minerals here.
The states, he said, will earn a revenue of Rs 1.55 lakh crore over the lease period from 43 auctioned mines, Tomar said. The mineral block rules were amended in order to give a push to auction.
A total of 11 PSUs have been notified so that they could take up exploration, the minister informed.
The mines ministry, Tomar said, was working on allowing private miners for exploration. At present, the exploration of mines is carried out by Geological Survey of India (GSI) and Mineral Exploration Corporation Limited (MECL).
On the mining leases which are expiring in 2020, Tomar said: "There is a need to speed up work in this direction. MoEF, Niti Aayog and PMO all are working in this direction".
He further said that the draft policy on sand mining has been made and the states were deliberating on it. The auction of Bunder diamond project in MP will happen soon, Madhya Pradesh Mining Minister Rajendra Shukla told reporters here.
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