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Govt weighs mine reforms: clearances before auctions
Mint Mumbai
|October 20, 2023
Move to speed up output after block allocation; production record worst in commercial mines
- 32 out of 108 iron ore blocks operational so far
- 10% of other mineral blocks are operational
The government may look at the next set of reforms in the mining sector to ensure projects awarded in auctions start producing within the stipulated timeframe, without facing uncertainty because of delayed clearances.
According to two people aware of the development, the Centre is now looking at auctioning select mineral blocks under an ‘on-tap’ arrangement with prior clearances to ensure faster development and extraction of mineral resources.
It is also consulting on whether some support could be extended to companies after the auction to finalize the mining plan and arrange for clearances and financing to provide ease of doing business to winning bidders.
This story is from the October 20, 2023 edition of Mint Mumbai.
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