Vedanta, Coal India, Ola Electric bid for critical mineral blocks

Govt receives more than 50 bids for the 20 strategic mineral blocks in the first tranche

Mining majors Vedanta, Coal India and NLC India, apart from Ola Electric, Jindal Power and Dalmia Group, are among bidders for 20 blocks in the first tranche of auction for critical mineral blocks in the country. The Union mining ministry on Thursday said it has received more than 50 bids for the 20 critical and strategic mineral blocks in the first tranche, which was launched on 29 November.

These blocks consisted of minerals like lithium, glauconite, nickel, PGE, potash, graphite, molybdenum, phosphorite and rare earth elements (REE). The blocks are spread across Bihar, Chattisgarh, Gujarat, Jharkhand, Odisha, Tamil Nadu, Uttar Pradesh and the Union Territory of Jammu and Kashmir.

"The bidders represent a wide array of sectors like mining companies, EV manufactures, cement producers, energy sector etc. Notable among them are Vedanta Ltd, Coal India Ltd, NLC India Ltd, Shree Cement, Orient Cements, Ola Electric, Dalmia Group, Rungta Group and Jindal power etc," the statement said.

The tender documents for these blocks were made available for purchase until 13 February. The last date for submission of bids was 26 February, and more than 180 tender documents were purchased by interested bidders.

Union mines minister Pralhad Joshi on Thursday also launched the second tranche of e-auction of critical and strategic minerals. A total of 18 critical mineral blocks would be auctioned in this tranche, out of which 17 mineral blocks are put up for grant of composite licence and one mineral block for grant of mining lease.

In August last year, Centre amended the Mines and Minerals (Development and Regulation) Act (MMDR Act) to classify 24 minerals as critical and strategic minerals. This amendment conferred power to the central government to grant mineral concession for mineral specified in Part D of the First Schedule. The revenue generated from these auctions shall accrue to state governments. The government has been making efforts to boost the mining of critical minerals that are key components for semiconductor, batteries and solar module manufacturing playing a key role in India's net-zero plans.

The blocks are spread across Bihar, Chattisgarh, Gujarat, Jharkhand, Odisha, Tamil Nadu, Uttar Pradesh and the Union Territory of J&K

PTI Army soldiers during the precision firing of Anti-Tank Guided Missiles by the Eastern Command amid the arid expanse of the Teesta Field Firing Range, in West Bengal. The annual Eastern Command Anti Tank Guided Missile firing was conducted from 20 February to 28 February.