The Bihar government is all set to grant permission for exploration of recently discovered mineral reserves of magnetite and glauconite worth Rs 14,594 crore in Jamui and Rohtas districts, an official said on Wednesday.

       The Mines and Geology Department has decided to allow exploration of mineral deposit of around 48.40 million tonne of magnetite, a form of iron ore, in Majos block of Jamui district, according to a document, a copy of which was reviewed by PTI.

       The resource is spread over a three-square kilometre area and tentatively valued at Rs 6,000 crore, it said.

       The department will soon grant permission for exploration of around 130.11 million tonne of glauconite, a common source of potassium in fertilisers, in Pipradih and Chutia-Nauhatta blocks of Rohtas district.

       The total estimated value of the mineral reserves is around Rs 8,594 crore, according to the document.

       "Earlier, there was a perception that Bihar lost its mineral wealth following the creation of Jharkhand in 2000.

       "Now, Bihar has sufficient mineral resources to boost its economy. We will soon grant permission for exploration of mineral deposits in Rohtas and Jamui districts. This will also help the state government create new employment opportunities," Principal Secretary-cum-Mines Commissioner Harjot Kaur Bamhrah told PTI.

       The government has also decided to revive its Directorate of Geology under the Mines and Geology Department after the recent discovery of mineral reserves in the state.

       The Geological Survey of India has already indicated deposit of other minerals in the state and the mines department is working on it, she said.

       The decision to give permission for the exploration of mineral deposits in the two districts was taken in a Joint Working Group (JWG) meeting held here on December 15, and GSI officials were present there.

       The state department is also planning to sign an MoU with the Mineral Exploration Corporation Ltd to expedite such exercise in the state.

       (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)