 "India is a mineral-rich country (its geological potential is similar to Western Australia) but mines only 2 per cent of its potential")
Starting Monday, the government will auction five mineral blocks in Gujarat and Karnataka having reserves of 667.2 million tonnes.
The development assumes significance in the wake of the Centre asking each state having mineral resources to identify at least five new mining projects for auction with pre-embedded clearance on a pilot basis, with a view to expediting the sale process as well as operationalisation of the blocks.
While the auction of one mineral block in Karnataka will begin on Monday, the sale of other four mines will commence on Thursday and last till July 8, according to government documents.
