India’s Ministry of Mines has accorded the formal go-ahead to the state government of Rajasthan to put up four iron ore blocks for auction, government officials said on Wednesday, August 30.
The officials stated that the successful bidders would be awarded “composite licenses” for exploration and development of the assets and extraction of iron ore, along with any other mineral that may be established in course of the exploration.
As per the plans of the state-level Department of Geology and Mines, as many as 38 mineral blocks will be put up for auction in the current fiscal year.
It may be noted that there is no steel mill operational in Rajasthan currently.