CSEP hosted a webinar where experts discussed the mineral auctions regime in India and its impact on the government revenue, mining sector, and the economy.

In 2015, the Mines and Minerals (Development and Regulation) Act was amended to change the system of allocating natural resources from a first-come-first-serve to an auctions regime. The goal was to remove discretion in the process and move towards a fair, objective, and transparent system.

According to a Ministry of Mines estimate, the winning bidders will, on average, make auction payments of over 86% of the value of the mineral resources to the state governments. When accounting for other statutory payments, taxes, and operational costs, very little is left as the miners’ earnings.

The webinar was moderated by Rajesh Chadha, Senior Fellow, Energy, Natural Resources & Sustainability, CSEP, and featured the following speakers:

Arun Kumar, Former Secretary, Ministry of Mines

Ashok Kumar Bal, Chief Executive Officer, India Mining Operations, Essel Mining & Industries Limited

Chanakya Chaudhary, Vice President (Corporate Services), Tata Steel

Nik Senapati, Resource Consultant and President, Australia India Business Council Ltd (Queensland)

All content reflects the individual views of the speakers. The Centre for Social and Economic Progress (CSEP) does not hold an institutional view on any subject.