Over 500 non-coal mineral blocks, partially or minimally explored under current leases, but are entangled in legacy issues and litigation, will be up for grabs as the Cabinet is learnt to have approved a proposal to amend the relevant law for their re-allocations through competitive bidding. Also, the employment-intensive, but highly under-invested sector, will get a fillip from a Cabinet decision to do away with end-use restrictions for miners. Those with captive leases will be allowed to sell the minerals in the open market.
Sources said the Cabinet also gave the go-ahead for reallocation of several non-producing blocks of the state-run companies, a move that could also enthuse the private players as many of these blocks have abundant proven resources.
