500 mining blocks would be offered through an open and transparent auction process: FM Nirmala Sitharaman

New Delhi: 500 mining blocks would be offered through an open and transparent auction process, a joint auction of Bauxite & Coal mineral blocks will be introduced to enhance Aluminum industry’s competitiveness announced FM Nirmala Sitharaman.

Nirmala Sitharaman says Remove distinction between captive and non-captive mines; 500 blocks under new policy. A seamless composite regime to make mining easy. Joint auction of minerals to enhance competitiveness.

We are making sure that using technology, land parcels are mapped using GIS and are utilized properly. 3,376 Industrial parks over 5 lakh hectares have been mapped, so that potential investors can utilize them appropriately says Nirmala Sitharaman.

Economy will benefit from opening up of coal sector, we will provide incentive to convert coal into gas, coal bed methane extraction will happen via auction, ₹ 50,000 crore to be spent for evacuation infrastructure, after mining .