The mines department auctioned four limestone blocks netting a record revenues of Rs 46,000 crore during the 50-year lease.
This is one of the highest revenues received through auctions in the country since the amendment of MMDR Act in 2015. The mineral blocks two each in Nagaur and Jhunjhunu fetched premium of 185%.
Mines and petroleum additional chief secretary Subodh Agarwal said that between January 24 and 28, the auctions were conducted. He said against a reserve price of 51.50% against the Parshuram Gothra East block covering 460 hectares in Jhunjhunu, Dalmia Cement won the bid offering premium of 192%.
The block is estimated to have reserves of 158 million tonne of limestone. The state will get Rs 13,243 crore revenues during the 50 year lease besides Rs 1,419 crore of royalty, DMFT and other contibutions. This is the largest premium gained from any auction in the country, said Agarwal.
Parshuram Gothra West block covering 287 hectares got a premium of 192% against the reserves ratio of 1.5%. The block is estimated to have 163.165 million tonne limestone reserves. The department expects revenues of Rs 13,609 crore from the block during the 50 year lease.
Similarly, the 3C-1 block of Nagaur fetched premium of 130% against 45% offered. The block spread over 300 hectares has 183 million tonne limestone reserves. The block, won by JSW Cement, will generate revenues of 10,357 crore during the 50 years besides Rs 1,641 crore as royalty, contribution to DMFT and other funds.
The 3C-2 block of Nagaur also fetched premium of 50% against 27% which was won by JSW again. The state will get revenues of Rs 3,277 crore from this block.
Pamod Jain Bhaya, mines and petroleum minister, said the record premiums are the result of a transparent auction conducted on the portal of the central government.