#AOJQuote of the day 30th June 2016

“The government will start to auction the rights to up to 70 diamond and gold exploration zones to mining companies this year. The new exploration policy will cut the time needed for approvals and guarantee royalties over the life of a mine.”

Balvinder Kumar 

Secretary, Ministry of Mines, GOI

#AOJQuote of the day 30th June 2016

“We forecast the gold price to increase through 2016 and believe the $1,500/oz mark could be tested by late 2016 or early 2017 as the macro implications of the Brexit vote are clarified and the Nov. 8 U.S. election weighs on sentiment.”

Credit Suisse Bank

 

#‎AOJDailyeNews‬ Mines policy gets approval; 70 blocks of gold and diamond to be auctioned this fiscal

The government on Wednesday approved the National Mineral Exploration Policy (NMEP) with an eye on raising India's mining potential and attracting private investment by bidding out mineral blocks through a transparent e-auction process.
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