Home BIG STORY Odisha to appoint SBI Caps as transaction advisor for mines auction

Odisha to appoint SBI Caps as transaction advisor for mines auction

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Odisha Sun Times Bureau
New Delhi, Dec 15:

Odisha Government will sign a MOU with SBI Capital markets Ltd (SBI Caps) as its transaction adviser for the upcoming mines auction in the State tomorrow.

Iron Ore Mine

The decision on this context was taken in the CEC (Coordination Cum Empowerment) meeting held in New Delhi today.

The State Government is all set to conduct the auction of 12 of its mines as per the MMDR (Amendment) Act, 2015. The DGPS survey, geological survey and the map preparation of 10 of these mines have already been completed.

“The State Government is preparing to auction 12 blocks in the first phase. We are yet to complete the DGPS for two of these blocks due to law and order situation. However, for the rest 10 DGPS survey, geological survey and the map preparation have been completed,” said Odisha Mines Director Deepak Mohanty after the CEC meeting today.

“Besides, two tender documents have also been finalised and prepared. Approval from the Union Government has been sought for one of these documents. A notification will be issued on this context by December,” Mohanty added.

He also has informed the Union Government that the royalty contribution from the lessees towards District Mineral Foundation (DMF) and National Mineral Exploration Trust (NMET) will be collected online.

In the meeting, Odisha Government presented a mobile app that helps in mining and mineral transportation. This move was appreciated in the CEC meeting and a decision was taken to implement this procedure in all the states.

Notably, recently the Odisha government extended the lease period of 54 mines under the Mines and Minerals (Development and Regulation) Amendment Act, 2015 while process is on for some others. As per the notified Auction Rules, 2015, the governments will have the discretion to reserve particular mines for any use it deems fit.

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