Enhancing private investment in the mineral sector, the government will bring structural reforms to boost growth, employment and bring state-of-the-art technology, said Finance Minister Nirmala Sitharaman while announcing the fourth tranche of the COVID-19 relief package.
In the press conference on May 16, the finance minister said that the government would introduce a seamless composite exploration-cum-mining-cum-production regime.
Also, 500 mining blocks would be offered through an open and transparent auction process, said Sitharaman.
A joint auction of bauxite and coal mineral blocks will be introduced to enhance the aluminium industry's competitiveness, she further said. This, she said, will help the aluminium industry reduce electricity costs.