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Friday, December 3, 2021

Coal Minister announced reimbursement of transaction advisor fee for mineral auctions - PSU Connect

Last updated Wednesday, November 24, 2021 00:38 ET , Source: NewsService

Auctioning the 52 blocks by States will not only improve their mineral economy but also create employment for locals.

New Delhi: Union Coal Minister Shri Pralhad Joshi addressed the 5th national conclave on mines and minerals on November 23, 2021. At National Conclave he announced reimbursement of transaction advisor fee for mineral auctions.

  1. 100% transaction advisor fee to be reimbursed in case of successful auctioning
  2. 50% fee to be reimbursed in case of unsuccessful auctioning

He further handed over 52 mineral blocks to various State Govts in the 5th National Conclave On Mines And Minerals today. These G4-level blocks have been identified by the Geological Survey of India and can be put up for auction by States.

These mineral blocks are located across 15 States, comprising several types of mineral deposits.

Auctioning these 52 blocks by States will not only improve their mineral economy but also create employment for locals.
Some of these States are:

?? Chhattisgarh got 1 diamond, 2 gold, 1 limestone, 1 bauxite & 1 lithium blocks

?? Madhya Pradesh got 2 phosphorite, 2 base metal, 2 limestone, 1 manganese & 1 molybdenum blocks

?? Odisha got 2 manganese & 3 iron blocks

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