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Business News/ Companies / Vedanta, Coal India, Ola Electric bid for critical mineral blocks
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Vedanta, Coal India, Ola Electric bid for critical mineral blocks

The tender documents for these blocks were made available for purchase until 13 February

The union minister for parliamentary affairs, coal and mines, Pralhad Joshi on Thursday, also launched the second tranche of e-auction of critical and strategic minerals.Premium
The union minister for parliamentary affairs, coal and mines, Pralhad Joshi on Thursday, also launched the second tranche of e-auction of critical and strategic minerals.

New Delhi: 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 mines 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.

Addressing the launch programme, Joshi said: "In the first tranche, 20 blocks were put up for auction. We are delighted with the interest shown by the mining industry players for their encouraging response. The blocks that are put for auction in the second tranche represents a diverse array of critical and strategic minerals essential for various industries. These minerals consisted of tungsten, vanadium, graphite, rare earth elements, glauconite, phosphorite, nickel, platinum group of minerals, cobalt, potash, etc."

The government has been making efforts to boost the mining of critical minerals in the country. These minerals are key components of for semiconductor, batteries and solar module manufacturing playing a key role in India's net zero plans.

In September last year, the ministry came up with a list of 30 critical minerals in September 2023 which are required in a number of key sectors including battery storage, telecom and defence.

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Published: 29 Feb 2024, 10:35 PM IST
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