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India is planning to auction its third diamond mine along with three gold mines and one bauxite mine in Chhattisgarh next month. The auction of the Basna II Block in Chhattisgarh will take place on November 10, according to sources. The country s diamond output has declined in recent years due to restrictions on production. Meanwhile, gold prices are rising, which may make the auction of the gold mines more lucrative. Under the current regulatory framework, the state government auctions minerals, with the revenue being used in the respective states.
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