Ministry of Mines has successfully completed the auction of eight critical mineral blocks as part of the Tranche IV of the Auction of Critical and Strategic Mineral Blocks. This development reflects the Indian government’s dedication to strengthening mineral security and ensuring a reliable supply of essential resources vital for India’s energy transition and sustainable industrial and economic growth.
The auction, conducted under the Mines and Minerals (Development and Regulation) Act, 1957, exemplifies the Central Government’s authority in granting mineral concessions for key minerals listed in Part D of the First Schedule. This auction, authorised by this legislative framework, represents a critical component of India’s strategy to secure consistent access to critical minerals necessary for various high-tech industries, including electronics, defence, and renewable energy sectors.
Following the issuance of the Notice Inviting Tender (NIT) on June 24, 2024, for a total of 21 mineral blocks, the auction received substantial interest from industry players. After a comprehensive evaluation of technical bids, 10 mineral blocks proceeded to the second round of e-auction, which included three First Attempt Blocks and seven Second Attempt Blocks. The eight blocks that completed the auction process contain vital deposits of minerals like phosphorite, graphite, and vanadium, which are essential for green energy and high-tech applications. The auction process for these eight blocks is now concluded, with the process for the remaining two blocks expected to finish by December 2, 2024.
The Tranche IV auction, a landmark for North-East India, included the successful auction of four blocks in the region. Notably, this tranche saw the first successful auction of a tungsten block and two cobalt blocks. Among the auctioned blocks, strategic minerals such as tungsten, vanadium, graphite, cobalt, manganese, iron, and phosphorite were prominently represented. These minerals hold considerable importance for advanced technology, defence, and energy storage applications and will play a vital role in reducing India’s import dependence on these resources.
Key outcomes from the Tranche IV auction include Hindustan Zinc Limited’s acquisition of the Balepalyam Tungsten and Associated Mineral Block in Andhra Pradesh and the Nayakkarpatti Tungsten Block in Tamil Nadu. Vedanta Limited secured the Depo Vanadium and Graphite Block in Arunachal Pradesh and the Sanyasikoppa Cobalt, Manganese, and Iron Block in Karnataka. Oil India Ltd acquired the Phop Graphite and Vanadium Block, and Orissa Metaliks Private Limited won the Radhpu Graphite and Vanadium Block, both in Arunachal Pradesh. Additionally, Mamco Mining Private Limited secured the Endolin-Isholin Graphite Block and the Barwar Phosphorite Block in Uttar Pradesh. These successful bids underscore the confidence and growing engagement of industry stakeholders in India’s reformed mining sector.
The successful auction of these eight critical mineral blocks brings the total number of critical and strategic mineral blocks auctioned by the Central Government to 22. This accomplishment marks a milestone in the government’s ongoing efforts to foster self-reliance in critical minerals, a crucial step towards realising the AtmaNirbhar Bharat vision and strengthening India’s competitive position in the global mineral economy. The Ministry of Mines expressed gratitude to all stakeholders for their active participation in Tranche IV, which serves as an important contribution towards India’s mineral security and economic resilience.
