E-auction of diamond block for first time in country

3 blocks of limestone to be e-auctioned in state

Bhopal, May 6, 2016 (Ataullah Faizan):   A diamond block is being e-auctioned for the first time in the state. Secretary Mineral Resources Mr. Shiv Shekhar Shukla informed that diamond block spread over 133.5 hectares at Hatupur in Panna district will be auctioned. Similarly, 3 blocks of limestone will also be e-auctioned. The state government has issued tender notices for e-auction of mineral wealth costing Rs. 1924 crore in the 4 blocks. The state government expects Rs. 50 to Rs. 100 crore revenue from them this year. In the diamond block spread over 133.5 hectares in Panna district, 0.604 MT Diamondiphorous conglomerate is assessed cost of which has been estimated to be about Rs. 106 crore. Limestone blocks are situated at Nimarmunda in Damoh district, Bandarkhan and Ghudsa in Satna districts. Spread over 135.583 hectares, Nimarmunda is estimated to have 7.51 MT deposits worth Rs. 394 crore, Bandarkhan spread over 121.1 hectares has 17.2 MT deposits of limestone worth Rs. 901 crore and Ghudsa block spread over 68.849 hectares has 9.98 MT limestone deposits worth of which is estimated to be about Rs. 523 crore. In e-auction of these mineral blocks, Government of India’s undertaking Messrs Meacon limited and SBI Cap have been made advisors. Entire e-auction process is being undertaken by Government of India’s undertaking Messrs MSTC online. To inform prospective bidders about the process through demo e-auction and pre-bid training. Further information can be obtained from http://www.mstcecommerce.com/auctionhome/mlcl/index.jsp and website of Mining and Geology Directorate <http://www.ekhanij.mp.gov.in>.

It is noteworthy that the state government has conducted successful e-auction of minor minerals, sands, stone, stone slabs etc due to which revenue in the state from minerals has increased manifold. Taking this process further ahead, major minerals will also be e-auctioned now. Through an amendment in January 2015 in Mines and Minerals and (Development and Regulation) Act, 1957, the Central government has made e-auction mandatory for all major minerals.