Two limestone blocks auctioned in Jammu and Kashmir: Centre
New Delhi, Oct 2: The Centre on Friday said the two mineral blocks in the Union Territory of Jammu and Kashmir have been successfully auctioned, marking the beginning of organised mineral development in the region.
The government of Jammu & Kashmir (UT) had entrusted the auction of mineral blocks to the mines ministry.
The sale of the two limestone blocks is likely to catalyse new investment and economic activity in the Union Territory. As mining and associated activities develop, they are expected to generate a large number of direct and indirect employment opportunities and create avenues for local businesses, entrepreneurs, service providers and allied industries.
Koot-Kapran limestone block has an estimated limestone resources of 4.75 million tonnes. The block has been explored up to the G-4 stage, providing scope for further detailed exploration and development, the mines ministry said in a statement.
G-4 stage mining refers to the reconnaissance survey phase, which is the earliest regional exploration stage used to identify areas with enhanced mineral potential.
The Wantrag limestone block has an estimated resources of 10.853 million tonnes. The block has been explored up to the G-3 stage, including 159 metres of drilling, providing an important geological basis for further exploration and development.
A G-3 stage in mining refers to the prospecting or preliminary exploration phase.
The government of Jammu & Kashmir (UT) had entrusted the auction of mineral blocks to the mines ministry. The successful completion of the auction reflects the use of a transparent and competitive mineral auction process for the systematic development of mineral resources, the statement added. (PTI)
Press Trust of India (PTI) is India’s premier news agency.
