190 Mineral Blocks Auctioned In Seven Years: Pralhad Joshi

190 mineral blocks were auctioned in seven years: Pralhad Joshi

New Delhi, Aug 23 : Coal and Mines Minister Pralhad Joshi told reporters on Tuesday that as a result of various innovative initiatives undertaken by the Central government, including changes in mining laws and 190 large mineral blocks were auctioned in the past seven years.He also said that mining for commercial purposes has proved to be a tremendous achievement in the country.
In his inaugural speech during the two-day event about Indian Minerals and Metals Industry, Joshi said the Centre is working to draw more private investors to exploration for minerals.

 190 Mineral Blocks Auctioned In Seven Years: Pralhad Joshi-TeluguStop.com

“Mineral exploration can be conducted without adverse environmental impacts through the use of drones and other advanced technology,” he said.

In reference to the fact that a lot of PSUs keep coal blocks for years, the minister encouraged the companies to begin production from these blocks as soon as possible and, if they are unable to do so then they should hand over those reserves to the ministry for auctioning.

Joshi stated that, through auctions for commercial coal mines the amount of Rs 25,000 crore in terms of additional revenue was created last year.Odisha was the first in income generation.

Minister also announced that the production of coal from mines that are captive is expected to reach 140 million tonnes in the coming year, which is up from the 89 million tonnes produced in the previous fiscal.

The total coal production for this fiscal year is expected to reach 9 million tonnes, according to the minister.


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