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India Issues Executive Order to Start Mineral Mine Auctions

India issued an executive order to start auctions of iron ore, bauxite, zinc and copper and other mineral mines, following a similar directive in October for coal quarries.

The order dated yesterday, posted on the mining ministry’s web site, ends an almost six-decade old system of awarding mines at the discretion of the provincial and federal governments. The ordinance doesn’t apply to lignite and atomic materials.