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Mineral Auctions: How fair is the game, and for whom?

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 basis 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. In our webinar, experts will discuss the mineral auctions regime in India and its impact on the mining sector and the economy. The webinar will be moderated by Rajesh Chadha, Senior Fellow, Energy, Natural Resources & Sustainability, CSEP, and will feature 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, President, Australia India Business Council, QLD 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.