1. Andhra Pradesh govt to call global tenders for barytes sale

Andhra Pradesh govt to call global tenders for barytes sale

The government has set up a technical committee to process the tenders for sale of barytes in a transparent manner

By: | Hyderabad | Published: December 23, 2014 12:20 AM

The Andhra Pradesh government plans to call global tenders for sale of barytes minerals and has appointed Capital Fortunes as transaction advisor. This is also part of the state government’s move to mobilise revenues to assist its loan waiver promise.

Reviewing the barytes issue at the secretariat on Monday, chief secretary I Y R Krishna Rao said that the sale of barytes will be linked to international prices on a floating basis.

He said that the government had already cancelled the order on grant of leases of barytes mines and set up a technical committee to process the tenders for sale of barytes in a transparent manner.

The chief secretary said the department has also been asked to study feasibility of setting a solar fencing at the barytes mining area, and achieve greater automation in grading, loading and transportation of barytes minerals. The mining department has also been advised to set up surveillance cameras in mining area, take up computerisation of the records and also promote RFID tagging for the vehicles carrying the mineral.

According to state government officials, about 20% of the global barytes deposits and 95% of India’s were located in 250 hectares in Mangampeta. The deposits were estimated to be 50 million metric tonne and worth R50,000 crore.

Recently, the state government had conducted red sanders sale and earned about R1,000 crore. The cash-strapped government decided to raise resources through the export of red sanders.

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