'Auction of mining leases likely to fetch Rs 10,000 crore'

 Minister for Mines and Geology Vinay Kulkarni has said that the State  is expecting a revenue of Rs 10,000 crore from the auctioning of mining contracts.

 Speaking with mediapersons here on Thursday, the minister said, “The auction process of the ‘C’ category mining contracts had already begun, as per the Supreme Court order. The process will be over by the end of January. The successful bidders can start extracting ore by March. This time around,  new companies have be given an opportunity.”

The minister said that the existing mining companies should strictly adhere to the new mining policy. The companies, which were issued mining lease earlier, had flouted rules.

The government, this time, has taken steps to follow the guidelines laid down by the Supreme Court and the CEC in protecting the environment, the minister said.