Team News Riveting
Raipur, March 9
Deccan Gold Mines Limited has been awarded a composite licence by the Chhattisgarh Mineral Resources Department for the Bhalukona-Jamnidih mineral block in Mahasamund district.
The block comprises Nickel, Chromium, and PGE (Platinum Group of Elements). The state government had put the block for via e-auction.
“The maximum bid of 21 per cent was placed by M/s Deccan Gold Mines Limited in the e-auction held on Monday,” officials in the Directorate of Geology and Mining said. Deccan Gold Mines (DGML) is the first private sector gold exploration company in India. The company has a large portfolio of exploration prospects in the states of Karnataka, Andhra Pradesh, Kerala and Rajasthan.
The Bhalukona-Jamnidih Block covers an area of 30 sq. Kms and forms part of Neo-archean Sonakhan Schist Belt in the NE fringe of Bastar Craton and represents a wide spectrum of volcano-volcanoclastic rocks of Sonakhan and Bilari Group, mafic-ultramafic intrusives, undeformed granitoids, younger dykes and quartz veins. Based on initial sampling data of GSI, the area requires further prospecting to facilitate mining operations and has been therefore recommended for grant of Composite Licence through e-auction process.
Officials claimed that Chhattisgarh Mineral Department allots mines through an e-auction process that is completely transparent. The allocation of mines is critical in order to increase the state government’s revenue.
The Chhattisgarh Mineral Department has successfully allotted a total of 23 mineral blocks of Limestone, Bauxite, Iron Ore, Gold Metal and Nickel, Chromium and PGE through e-auction method, from which royalty, DMF, environment, and the state government will receive additional income of approximately 80 thousand crores in the form of infrastructure cess.
