Govt plans to auction 280 mines worth Rs 10 lakh crore in FY'18
- IBEF
- February 15, 2017
New Delhi: The Government of India plans to auction 280 mines with an estimated mineral value of over Rs 10 lakh crore (US$ 149.45 billion) in the next fiscal year 2017-18. Apart from these, there are 83 mines under litigation, whose auction is dependent upon the outcome of legal process. Drone technology, developed by IBM, will be used to prepare topography maps and inspect the mines. Around 21 mining leases have already been auctioned so far with a cumulative resource value of around Rs 94,000 crore (US$ 14.04 billion).
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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