Rajasthan to float tender for auctioning Copper, Gold mines
Commodity Online | April 21 2016
UPDATED 11:58:06 IST

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Commodity Online
The Indian state of Rajasthan is planning to auction its copper and gold mines to shore up the states investments. The government will float invitation for tender for a copper mine in Ajmer district. Rajasthan has also identified two gold deposits called Bhukia and Dagocha for auction, as per report by VC Circle.

Some potential mineral blocks, including copper deposits near Dausa and Dhobion has been suggested by Indian ministry of mines. The state government also identified copper block called Mohanpura Ferrakia in the Ajmer district. The government is planning to auction the block under composite licencing route.

India is estimated to possess around 1,558.46 million tonnes of copper ore resources. The size of the Indian copper industry is around 500,000 tonnes, which as percentage of world copper market is only 3%. Expert opinions suggest that the country's domestic copper consumption is on the rise generating interest for auctioning new mines among the miners.

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