Non-coal minerals’ auction to start in June

Auction for allocation of non-coal mineral bearing leases could start as early as next month under the newly-notified rules, which inter alia mandate a two-stage bidding process through electronic route where the highest bid above the reserve price wins.

Karnataka is ready with 8 iron ore mines to be put under the hammer next month. This will be followed by auction in 13 other states for a total of 107 mines containing  limestone, bauxite or manganese ore apart from the key steel-making raw material.

As per the rules, the minerals extracted under the new lease should be utitilised solely for the specified-use and should not be sold or transferred or otherwise dispose of, either directly or indirectly.

 

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Amit Antil

After doing Power Management (MBA) from National Power Training Institute (NPTI), Amit Antil is now presently working with Today Green Energy Pvt. Ltd. and looking after business development activities for Solar. Earlier he was associated with leading power trading company Global Energy for 3 years. He has a sound knowledge about bidding, power trading, open access, REC trading, Govt. Liaisoning, Contract Negotiation, Power Purchase Agreement.

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