Government will auction 13 gold mines this month, know which state has the most reserves

Two out of three gold mines of Uttar Pradesh are in Sonbhadra. The tender for these three gold mines in Uttar Pradesh was floated on May 21. The government had said in May that the auction of mineral blocks in the country had stabilized.

Aug 14, 2022 | 3:53 pm

TV9 Bharatvarsh | Edited By: Ravikant Singh


Aug 14, 2022 | 3:53 pm




The government will auction 13 gold mines in Andhra Pradesh and Uttar Pradesh this month.  The government is preparing to sell gold mines as part of efforts to boost the contribution of the mining sector to the country's Gross Domestic Product (GDP).  According to official information, out of 10 blocks in Andhra Pradesh, five can be auctioned on August 26, while the remaining five are likely to be auctioned on August 29.

The government will auction 13 gold mines in Andhra Pradesh and Uttar Pradesh this month. The government is preparing to sell gold mines as part of efforts to boost the contribution of the mining sector to the country’s Gross Domestic Product (GDP). According to official information, out of 10 blocks in Andhra Pradesh, five can be auctioned on August 26, while the remaining five are likely to be auctioned on August 29.

Gold Mines in Andhra Pradesh include Ramagiri North Block, Boxampalli North Block, Boksampally South Block, Jawakula-A Block, Jawakula-B Block, Jawakula-C Block, Jawakula-D Block, Jawakula-E Block, Jawakula-F Block .  The tender notice for these gold mines was issued in March.  The remaining three gold mines in Uttar Pradesh will be auctioned this month.  But no date has been given for this yet.

Gold Mines in Andhra Pradesh include Ramagiri North Block, Boxampalli North Block, Boksampally South Block, Jawakula-A Block, Jawakula-B Block, Jawakula-C Block, Jawakula-D Block, Jawakula-E Block, Jawakula-F Block . The tender notice for these gold mines was issued in March. The remaining three gold mines in Uttar Pradesh will be auctioned this month. But no date has been given for this yet.

Two out of three gold mines of Uttar Pradesh are in Sonbhadra.  The tender for these three gold mines in Uttar Pradesh was floated on May 21.  The government had said in May that the auction of mineral blocks in the country had stabilized.  The states had auctioned 199 mineral blocks on August 4.  The allocation of mineral blocks through auction started after amendments to the Mining Act in 2015.

Two out of three gold mines of Uttar Pradesh are in Sonbhadra. The tender for these three gold mines in Uttar Pradesh was floated on May 21. The government had said in May that the auction of mineral blocks in the country had stabilized. The states had auctioned 199 mineral blocks on August 4. The allocation of mineral blocks through auction started after amendments to the Mining Act in 2015.

In the last financial year, 45 mineral blocks were put up for sale.  The Center had said that the state governments were getting a good part of the revenue from the auction.  The Mines Ministry had earlier said that the amendment in the Mineral Auction Rules would encourage competition among states, thereby ensuring greater participation in the sale of blocks.  Recently, the 5G spectrum auction has taken place in which the government has got more money than expected.  The government was expected to get 80 thousand to 1 lakh rupees, but the government got revenue of 1.5 lakh crore rupees from spectrum sale.

In the last financial year, 45 mineral blocks were put up for sale. The Center had said that the state governments were getting a good part of the revenue from the auction. The Mines Ministry had earlier said that the amendment in the Mineral Auction Rules would encourage competition among states, thereby ensuring greater participation in the sale of blocks. Recently, the 5G spectrum auction has taken place in which the government has got more money than expected. The government was expected to get 80 thousand to 1 lakh rupees, but the government got revenue of 1.5 lakh crore rupees from spectrum sale.

The government has got a similar expectation from the gold mine as well.  Even before this, mines have been auctioned in which both the central and state governments have earned good money.  Then 13 mines are ready for auction, the process of which is to be completed in the month of August itself.  There is good news for the states which are participating in this process for the first time because their earnings will be better from the auction.  In order to make the auction easier and increase the share of the states, the Ministry of Mines of the Center has changed the rules of auction.

The government has got a similar expectation from the gold mine as well. Even before this, mines have been auctioned in which both the central and state governments have earned good money. Then 13 mines are ready for auction, the process of which is to be completed in the month of August itself. There is good news for the states which are participating in this process for the first time because their earnings will be better from the auction. In order to make the auction easier and increase the share of the states, the Ministry of Mines of the Center has changed the rules of auction.






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