LIVE MARKET TRACKER :   BSE SENSEX        |    NSE NIFTY    
GLOBAL MARKETS :  NASDAQ      |    FSI London      |    NIKKEI Japan  
  USD GBP EUR CAD AUD INR
USD -
GBP -
EUR -
CAD -
AUD -
INR -
Indian-Commodity  :  Economy  :  Govt plans to auction 280 mines worth Rs 10 lakh crore in FY18

Govt plans to auction 280 mines worth Rs 10 lakh crore in FY18 (16-Feb-2017)

The government is planning to put as many as 280 mines with a mineral wealth of over Rs 10 lakh crore to auction in the next fiscal. As many as 21 mining leases have already been auctioned so far with a cumulative resource value of around Rs 94,000 crore. The Mines Ministry has already facilitated the auction process extending support from IBM and Geological Survey of India (GSI), and various PSUs such as MSTC, MECON, MECL and SBICAP. Jharkhand, Chhattisgarh and Odisha are among the states preparing for the auction of mineral blocks like iron ore, bauxite and limestone in the next financial year. The blocks to be available for auction are under the New Exploration Policy.

Mines Secretary Balvinder Kumar has said that there are 83 mines under litigation and auction of these mines depends upon the outcome of the legal process. He also said that drone technology will be used for monitoring of mining in any area and IBM will start this. This will help in preparing topography maps in few hours, which takes many days manually.

Kumar further said that 'Drones will also save the time consumed in manual inspection. We can also verify the claims of the industry. For instance, they are saying that they have mined 10 lakh tonnes of mineral. We would be able to know about the exact quantity in one hour using a drone. This will be used for new as well as old mines.


Top News Today
Biocon to set up R&D lab in Hyderabad
(24-Feb-2018)

Biocon to set up R&D lab in HyderabadBiocon is planning to start a Research and development (R&D) lab of its subsidiary Syngene in Genome Valley, Hyderabad, along with an expansion of its existing API/Intermediates facility. While......click on news to read complete article.

Idea Cellular raises Rs 3,500 crore via QIP
(24-Feb-2018)

Idea Cellular raises Rs 3,500 crore via QIPIdea Cellular has successfully closed a Qualified Institutions Placement (QIP) to raise Rs 3,500 crore. The company has issued and allotted about 42.42 crore equity shares to qualified institutional buyers......click on news to read complete article.

Tata Teleservices hikes stake in Tata Teleservices (Maharashtra)
(24-Feb-2018)

Tata Teleservices hikes stake in Tata Teleservices (Maharashtra)Tata Teleservices increased its stake in Tata Teleservices (Maharashtra) (TTML) by 11.76 percent to 48.3 percent by acquiring the shares that Japanese giant NTT DoCoMo had surrendered on exit from the......click on news to read complete article.

International Stock News
US Markets end higher on Friday
(24-Feb-2018)

US Markets end higher on FridayUS markets ended the Friday's session on optimistic note and the major averages ended the session at their best levels of the day. A continued drop by treasury yields contributed to the rally on Wall Street,......click on news to read complete article.

US markets closed mostly higher; Nasdaq report minor loss
(23-Feb-2018)

US markets closed mostly higher; Nasdaq report minor lossThe US markets closed mostly higher on Thursday, following upbeat data on the labor market which may have momentarily offset investor jitters over climbing inflation and rising bond yields. But stocks......click on news to read complete article.

US markets closed mostly higher; Nasdaq report minor loss
(23-Feb-2018)

US markets closed mostly higher; Nasdaq report minor lossThe US markets closed mostly higher on Thursday, following upbeat data on the labor market which may have momentarily offset investor jitters over climbing inflation and rising bond yields. But stocks......click on news to read complete article.

 

     
  
Recent Economy News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.