E-auctions, quick approvals to help Andhra govt woo investors

VIJAYAWADA: In a bid to promote sustainable development of the mining sector, the State government is working towards implementing policies and initiatives while prioritising the protection of the environment. The transparent auction process for mineral blocks and the government’s single-window clearance system for mining projects have been designed to encourage private investment in the sector.

he introduction of e-auctions has led to higher investment prospects in the State for small mineral reserves, spanning approximately 6,000 hectares. The process replaced the previous method of granting mining rights on a first-come, first-serve basis. It aims to increase opportunities for a wider range of individuals.
The streamlined approval process has reduced the time and cost of setting up mining operations in the State. As a result the government is hoping to attract more investors during the Global Investors Summit.

It may be noted that AP has a treasure trove of more than 48 minerals, including bauxite, manganese, graphite, lead-zinc, heavy mineral beach sands, iron ore, limestone, high-quality quartz, quartzite, and silica sand, among others. Additionally, with 92% reserves, the State is ranked number one in the country in the production of Barytes.