Mine auction rules update in works to kickstart operations fast

To expedite mine production, the Centre is set to amend the Mineral (Auction) Rules, 2015, introducing intermediary timelines and specifying performance security appropriation for delays. States will assess bidder-caused delays, while government-caused delays will reduce upfront payments. These changes, applicable retrospectively, aim to incentivize early production and streamline the auction process, addressing the low operational rate of auctioned mines.