Bhubaneswar: Odisha Chief Minister Naveen Pattnaik has cleared a proposal to auction 10 Iron Ore blocks. The state Steel and Mines department will issue a notification regarding the auction process soon.
The CM has cleared the proposal to auction 10 iron ore mines recently and the notification will be issued shortly” said Odisha Steel and Mines Minister Prafulla Samal.
He further added that SBI Capital has been roped in to conduct the auction process. The action process is expected to be completed within a month.
Apart from these, 21 out of 22 merchant mines whose validity will end by March 31, 2020 will also be put to online auctions in the following months. The state government has set an internal target to complete the auction related formalities in respect of 40 mineral blocks by December this year.
Earlier, the ministry had relaxed the cap on mine lease area to 58 suare Kilometres (Sq km) for Odisha, 75 sq km in Jharkhand and 50 sq km in Chhattisgarh.