RAIPUR: Chhattisgarh on Friday night earned the distinction of auctioning its first gold mine in India with Vedanta Private Limited quoting the highest bid of 12.55 per cent of IBM (Indian Bureau of Mining) price of Rupees 74,712/ troy ounce (1 troy ounce = 31.10 gram) to win the gold mine against three other bidders.
The successful auction of gold mine of Baghmara at Sonakhan in Balodabazaar-Bhatapara district took place on February 26 for 13 hours from 11am to 11.47 pm when the final bid was stamped upon. It is the first gold mine auctioned in the country, for grant of composite license (prospecting license-cum-mining lease) since enforcement of new amendment in Mines and Minerals (Development and Regulation) Act 2015.
The mine, with a reserve of 2700 kg, is expected to earn more than Rupees 81.40 crores to Chhattisgarh in addition to existing royalty of Rs 24.70 crores.
Earlier, on February 18 successful auction of mining lease was granted for Karhi Chandi limestone block in Baloda Bazaar and on February 19 Kesla limestone block in Raipur district. Karhi Chandi limestone block also earned the distinction of becoming the first non-coal mining lease to be auctioned in India. Like previous two limestone auctions, Baghmara also saw aggressive bidding.
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