Explanation:

The e-auction of iron ore mining block of Bagawas block of Jaipur has been done at 452 percent more than the reserve price, which is more than the mining blocks of the entire country.

The amount is being claimed as the highest in mining auction history in India.

According to the concerned officials of the state government, this is the highest ever premium amount in the entire country since the Mineral Auction Rules, 2015 came into effect.

Earlier, Madhya Pradesh had received the highest bid of 320 percent in the auction of mineral rock phosphate blocks.

It is pertinent to mention here that the high bid was made in the final auction process for allotment of 5.9266 hectares of iron ore block at Bagawas near Viratnagar in Jaipur district.

The auction of this mining block of Iron Ore of Bagawas is likely to fetch the state government a revenue of Rs 119.65 crore in the next 50 years, which includes royalty, premium, DMFT, NMET etc.