The Minister also revealed that relevant information for the purpose has been provided to Metal and Scrap Trading Corporation and SBI CAPS. The auction will take place in the month of August. The SBI Cap has been directed to work on auction of 11 mines and 7-8 mines have been finished so far.
As per the official sources, the five mines that would go under the hammer include two limestone mines located at Kotameta and Usakalabhagu in Malkangiri district, one in Garamara in Nuapada district, a manganese mine at Lasarda Pacheri in Keonjhar district and an iron ore mine in Sundargarh district.
The Centre has approved prospective licence (PL) and mining lease (ML) of two limestone mines in Odisha, said Mines director Deepak Mohanty. Three mines have been upgraded to G-2 level from G-3 level.
Investors know when is the right time to acquire raw materials to enhance their production, said Industry expert BS Pani. Even after the auction, a lot of work need to be done such as getting environment, forest and wildlife clearances and acquisition of land.