India mulls reviving old gold mines

India mulls reviving old gold mines

India is planning to revive a cluster of colonial-era gold mines – shut for 15 years but with an estimated $2.1 billion worth of deposits left – as the world’s second-largest importer of the metal looks for ways to cut its trade deficit, officials said.

250 mineral blocks under the hammer in FY18

250 mineral blocks under the hammer in FY18

In what could be a bonanza for states with mineral reserves, mines secretary Balvinder Kumar said on Friday that in 2017-18, states can auction up to 250 mineral blocks whose mining leases have lapsed due to regulatory hurdles. He said 21 mineral blocks have gone under the hammer fetching Rs 73,359.4 crore to the states.

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