Auction of 16 non-coal mines to fetch Rs 70,000 cr to 6 states, says Mines Secy

VADODARA: Auction of 16 non-coal blocks will fetch six host states revenues of close to Rs 70,000 crore over the next 50 years, mines secretary Balvinder Kumar has said.

Karnataka, Rajasthan, Andhra Pradesh, Odisha, Chhattisgarh and Jharkhand will earn about Rs 55,000 crore of revenues in addition to Rs 15,000 crore as royalty and funds over 50 years of life of the auctioned mines, Kumar told ET.