Ministry of Mines receives more than 50 bids for first tranche of e-auction of critical and strategic minerals

New Delhi [India], February 29 (ANI): Ministry of Mines has received more than 50 bids indicating the strong interest and confidence in the auction process. This robust response reaffirms Government's commitment to fostering transparency, competition, and sustainable growth in the mining sector, an official statement said on Thursday.
First Tranche of auction of 20 critical and strategic mineral blocks was launched by the Union minister of Parliamentary Affairs, Coal and Mines, Pralhad Joshi on November 29, 2023.
These blocks represented a diverse array of critical and strategic minerals essential for various industries. These blocks consisted of minerals like Glauconite, Nickel, PGE, Potash, Graphite, Molybednum, Phosphorite, Lithium and REE. These blocks are spread across states of Bihar, Chattisgarh, Gujarat, Jharkhand, Odisha, Tamilnadu, Uttar Pradesh and Union Territory of Jammu and Kashmir, the release stated.
The tender documents for these blocks were made available for purchase until February 13. The last date for submission of bids was February, 26 and more than 180 tender documents were purchased by interested bidders, it stated.
The technical bids were opened in the presence of designated officer and bid opening committee on February 27. The online bids were decrypted and opened electronically in the presence of the bidders. Subsequently, sealed envelopes containing offline bid documents were also opened in the presence of bidders, the statement added.
The bidders represent 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 release said.
The Central Government made a significant amendment to the Mines and Minerals (Development and Regulation) Act (MMDR Act) in August 2023 to include twenty-four minerals in Part D of the First Schedule of the MMDR Act, 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. (ANI)