Indias Ministry of Mines is aiming to develop the country's unexploited mineral resources using private investment, starting with 50 blocks of mineral rights to be auctioned off to companies for exploration. Measuring at least 100km2, claims will be exclusively assigned to private enterprises, under government plans unveiled at the beginning of January. The initiative is part of a wider policy focused on boosting investment in the mineral industry, which is currendy 90% owned by the state. Proposals include replacing the system whereby reconnaissance permits for mineral deposits can only be obtained from the government once an exploration company has submitted preliminary studies.
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