Bihar discovers deposits of critical minerals, preps for auctioning rights

The Bihar government is preparing to auction mining rights for minerals such as limestone, vanadium-bearing magnetite ilmenite, magnetite and glauconite that have been discovered in various non-forest areas of the state, a senior official said on Thursday.

Explorations near Patalganga in Gaya, parts of Rohtas district and Majos in Jamui district found the presence of millions of tonnes of mineral reserves, according to an official document seen by PTI.

"The state government will engage SBI Capital Markets (SBICAPS) as the transaction advisor for the auctions, and also to suggest the terms and conditions based on which the auctions would be held," Additional Chief Secretary and Mines Commissioner Harjot Kaur Bamhrah told PTI.

"Undoubtedly, the discovery of such critical minerals in non-forest areas of the state is a matter of great satisfaction. We don't have to seek permission from authorities concerned before initiating exploration activities as these deposits are not in forest ...