India's largest limestone block receives record bid
Rajasthan has received a record eight times the reserved price for the largest limestone block in the country in the e-auction conducted at Udaipur. The block, situated in Jayal tehsil of Nagaur, has 168 million tonnes (MT) of high-grade limestone resources, reports the Times of India.
The news item says that three major cement companies - Emami Cements, JSW Cements and Mangalam Cements - were in the fray for bidding. The reserve price for the block was approximately Rs 35 per tonne. The block received a final bid of around Rs 300 per tonne from Emami Cements which is more than eight times the reserve price.
"This is a major success for the department as it will result in revenue of at least Rs 6,000 crore for the state over the life of the mine, as well as create hundreds of jobs in the area. Rajasthan is already the leading cement manufacturer in the country with the presence of 23 cement plants and this will further consolidate the state's position," Secretary (Mines) Aparna Arora said in a release.
"The government is committed to making Rajasthan the top mining destination in the country and is taking several steps to boost mining in the state. We are investing in world-class exploration capabilities as well as focusing on clearing all pending applications," the Secretary said