India’s offshore mineral block auction likely to face speed-breaker

June 6, 2016

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A lack of a definitive legislative framework could slow the Indian government’s plans to auction at least 50 prospecting-cum-mining leases within the next three to four months.

According to a government official, onshore mining of minerals under the Mines, Minerals Development and Regulation Act (MMDRA) 2015 empowered the government to adopt the auction route for the allocation of mineral reserves.

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