An auction of two iron ore blocks with combined reserves of an estimated 100 million mt scheduled to have been completed by end of this month has been deferred by the Odisha government, government officials said on Wednesday, October 3.
While no reasons are cited officially, sources in the government said that the state government deferred holding the auction to try out a suggestion by the federal Mines Ministry that the auction should be completed only when the state government is in a position to offer all mandatory clearances required to develop the mine and production from the block in a single "bundled" approval.
Such an offer of bundled mandatory clearances from various agencies will ensure that the successful bidder will be able to commence production within the shortest gestation period.
The government has not set any fresh deadline for holding a fresh auction for these two blocks, the sources added.