The Bihar government is making preparations to auction mining rights for minerals such as limestone, vanadium-bearing magnetite ilmenite, magnetite, and glauconite that have been discovered in several non-forest areas of the state, a senior official said on Thursday.
Millions of tones of mineral reserves were found during explorations near Patalganda in Gaya, parts of Rohtas district, and Majos in Jamui district, reported PTI on Thursday.
Additional Chief Secretary and Mines Commissioner Harjot Kaur Bamhrah while talking to PTI said, "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."
She further said, "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 areas."
The general exploration (G2 stage) in Jamui's Majos successfully found 48.40 million tonnes of magnetite buried deep inside the soil. Preliminary exploration (G3 stage) in Pipradih-Bhurwa block in Rohtas found 88.38 million tonnes of Glauconite over a 12.46 sq km non-forest area, Bamhrah said.
She added that magnetite, a rock mineral, is one of the main iron ores, glauconite is a green-colored mineral and structurally similar to mica. PTI quoted her as saying, "Now, Bihar has sufficient mineral resources to boost its economy."
For any mineral deposit, there are four stages of exploration viz. reconnaissance (G4), preliminary exploration (G3), general exploration (G2), and detailed exploration (G1).
Bamhrah said that due to the usage of the latest technologies in innovative exploration methods, several mineral reserves in different parts of the state have been discovered.
She continued to say that during preliminary exploration last month in Bhora-Kathra in Rohtas, limestone deposits across an area of 5.60 sq km were found while stating that 39.68 million tonnes of limestone are estimated to be in this area.
Over an area of 2 sq km in the northeast of Patalganga and east of Sapneri village in Gaya and Jehanabad, vanadium-bearing magnetite was found. Vanadium is used in manufacturing steel, pipes, superconducting magnets, medical implants, and batteries, said Bamhrah.
She said that two glauconite mines in the Pipradih and Chutia-Nauhatta blocks of Rohtas, which is a common source of potassium in fertilisers, have been prepared for auction by the state government and are valued at Rs 14,048 crore.
The Mines and Geology Department has decided to auction Jamui district iron ore resources worth Rs 6,000 crore.