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The Geological Survey of India has already handed over 35 offshore mineral blocks for auction to the government and 24 more blocks are in pipeline to be handed over.
A bill that seeks to provide a fixed 50-year production lease for offshore minerals was cleared by the Rajya Sabha on Thursday. | Latest News India
Replying to the debate on the Bill, Coal and Mines Minister Pralhad Joshi said the Bill aims to create a transparent auction route for allocation of mines.