States are gearing up for the second phase of mine auction, which will see mines bearing minerals like gold, diamond and iron ore go under the hammer. Five states - Karnataka, Andhra Pradesh, Madhya Pradesh, Rajasthan and Jharkhand - will offer a total of 29 mines for the auction that will commence from the third week of September. According to analysts, there will be good response for iron ore mines, and gold and diamond too will see interest. However, the industry does not seem very enthusiastic about limestone blocks.During the first round held in the last financial year, states offered nearly 47 mines bearing minerals such as gold, iron ore, bauxite and limestone. States were able to auction 7 mines in the first phase with mineral reserves worth about Rs 29,000 crore. The revenue to accrue from these mines over the next 50 years will be more than Rs 13,000 crore.