The government will soon allow entities conducting exploration of mineral blocks to bid for mining the same blocks, said officials. It is set to notify new mining rules which seek to encourage large mining companies to actively explore minerals in the country, they said.
Once approved, these changes in mining rules will allow companies to both explore a block and bid for it. “This will prompt large players to undertake exploration activity which so far has seen muted interest,” said one of the officials, who did not wish to be identified.
