Mineral Development Award

• 12 Jul 2022

Why in News?

• On July 11, 2022, Madhya Pradesh Mineral Resources and Labour Minister Brijendra Pratap Singh informed that Madhya Pradesh will be awarded at the 6th National Conclave to be held in New Delhi for the policies and outstanding work being adopted by the Central Government for mineral development.

Key Points

• Minister Brijendra Pratap Singh informed that Madhya Pradesh will be given the first and second awards respectively in 2 categories by the central government. An incentive of Rs.2 crore will also be given to the State Government.
• It may be mentioned that after the amendment made by the Central Government to the Central Act since 2015, a transparent process of allocation of blocks of major minerals through auction is being followed.
• The Government of Madhya Pradesh has taken up the auction process by acting expeditiously in this direction and so far the mineral blocks of 52 major minerals have been auctioned. These include blocks of minerals such as Diamond, Limestone, manganese, Bauxite, Iron Ore, Rock Phosphate, etc. Out of these, 27 mineral blocks have been successfully auctioned.
• If the mine becomes operational after the auction, the State Government will have a revenue potential of Rs.47 crore and Rs.219 crore in the next 50 years. The auction of 27 blocks of major minerals in the state in the coming phase is in progress.
• The 6th National Conclave to be held in New Delhi will be inaugurated by Union Minister for Coal and Mines Prahlad Joshi. In this National Conclave, the State Governments are being encouraged to implement the mineral auction process successfully.