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The Bihar government is gearing up to auction mining rights for various minerals, including limestone, vanadium-bearing magnetite ilmenite, magnetite, and glauconite, which have been discovered in non-forest areas of the state. The presence of millions of tonnes of mineral reserves has been detected in Patalganga in Gaya, parts of Rohtas district, and Majos in Jamui district.
Transaction Advisor Appointed
According to Additional Chief Secretary and Mines Commissioner Harjot Kaur Bamhrah, the state government has appointed SBI Capital Markets (SBICAPS) as the transaction advisor for the auctions. SBICAPS will suggest the terms and conditions for the auctions.
Exploration Stages and Innovative Methods
There are four stages of exploration for mineral deposits, including reconnaissance (G4), preliminary exploration (G3), general exploration (G2), and detailed exploration (G1). Using innovative exploration methods utilizing the latest technologies has led to the discovery of several mineral reserves in different parts of the state, said Bamhrah.
Discovery of Mineral Reserves
The general exploration (G2 stage) in Jamui's Majos has found 48.40 million tonnes of magnetite. In contrast, preliminary exploration (G3 stage) in the Pipradih-Bhurwa block in Rohtas has established 88.38 mt of Glauconite over a 12.46 sq km non-forest area, said Bamhrah.
Limestone deposits were found across 5.60 sq km in Bhora-Kathra in Rohtas during preliminary exploration last month. Meanwhile, northeast of Patalganga and east of Sapneri village in Gaya and Jehanabad, vanadium-bearing magnetite ilmenite was found over a 2 sq km area.
Boost to Bihar's Economy
Bamhrah said the discovery of critical minerals in non-forest areas of the state is a matter of great satisfaction, adding that Bihar has sufficient mineral resources to boost its economy. The state government has also lined up two mines worth Rs 14,048 crore of glauconite for auction in the Pipradih and Chutia-Nauhatta blocks of Rohtas, a common source of potassium in fertilisers.
The Mines and Geology Department will also auction iron ore deposits worth Rs 6,000 crore in Jamui district, added Bamhrah.