The State government of Chhattisgarh has auctioned the Kesla II limestone block in Raipur District.
According to an official statement, Dalmia (Bharat) Cement has emerged as the preferred bidder for this block. With 215 million tonnes of reserves, the block has an estimated value of mineral resource of ₹10,367 crore.
At a reserve price of five per cent, the block received a highest bid of 96.15 per cent which translates into an estimated cumulative revenue of ₹11,894 crore to the State government over the lease period.
The State will gain ₹9,968 crore over the lease period through the auctions alone. Income from royalty stands at ₹1,720 crore, District Mineral Foundation (DMF) at ₹172 crore and National Mineral Exploration Trust (NMET) at ₹34.4 crore.
Image Credit : thehindubusinessline.com