BHUBANESWAR: The Union Ministry of Mines has proposed to amend the Mineral Concession Rules (MCR), 2016 for specifying formula for determining average sale price of glauconite and potash to estimate the value of mineral blocks for auction. This amendment has been necessitated following requests from state governments to prescribe a formula for determination of the average sale price (ASP) of the two minerals which are widely used for preparation of fertilisers.
The state governments have requested for specification of formula for calculating ASP for such minerals at an early date to enable them to calculate value of estimated resources for auction of blocks of these minerals.Glauconite and potash are used for production of fertilisers which are vital for the agriculture sector of the country. The country is totally dependent on import of these minerals to meet its requirement.
“Encouraging indigenous mining of these minerals is in the national interest that would lead to reduction in imports and would also help in the efforts of making Atmanirbhar Bharat,” said a notice issued by the Mines Ministry. The Ministry has decided to specify the following formula for calculation of ASP of glauconite and potash in rule 45 of the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016 (MCR, 2016). In case price of muriate of potash (MOP) for any month in the immediately preceding 12 months is not available, then next available price for the month immediately prior to such 12 months, would be taken in place of such month for which price of MOP is not available, it said.
As part of the pre-legislative consultation before amendment of relevant rules, the Ministry has invited comments/suggestions from the general public, State governments, mining industry stake-holders, industry associations, and other entities concerned. The last date for receipt of the comments/suggestions from the stakeholders is September 30, 2021.Glauconite, a major component of green sand, is a common source of potassium and is widely used to adjust soil pH (acidity or alkalinity). It is used for soil conditioning in both organic and non-organic farming, sources said.