India to auction 102 mineral blocks in next six months

In one of the most aggressive moves yet to monetise natural resources, India’s Mines Ministry is pushing to auction 102 mineral blocks in the next six months of current financial year. The Ministry’s new thrust to complete the auctions by March 31, 2019 can be gauged from the fact that since 2015, when auction was made mandatory for allocation of mineral assets to investors through the Mines, Minerals Development and Regulation Act (MMDRA), only 50 mineral blocks have been auctioned by respective state governments.