Also, a joint auction of bauxite and coal blocks would be done to enhance the aluminium industry's competitiveness
Nirmala Sitharaman. Picture/PTI
New Delhi: Finance Minister Nirmala Sitharaman on Saturday announced major reforms in the mining of minerals through a seamless composite exploration-cum-production regime.
She said 500 blocks of minerals will be auctioned in a composite exploration-cum-mining-cum-production regime.
Also, a joint auction of bauxite and coal blocks would be done to enhance the aluminium industry's competitiveness. This, she said, will help the aluminium industry reduce electricity costs.
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She said the distinction between captive and non-captive mines will be removed to allow the transfer of mining leases and the sale of surplus unused minerals, leading to better efficiency and production.
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