The auction for up to twenty out of thirty-eight critical mineral blocks is in its final stages. Ola Electric and Vedanta are leading contenders for lithium and PGE (platinum group of elements) blocks.
Out of the initial twenty blocks, seven have moved to the second stage with confirmed bidders, while another seven are progressing to the third tranche. In the second batch of eighteen blocks, 7-8 are close to finalization.
The average success rate stands at approximately thirty percent. Achieving a fifty percent success rate would be significant, especially considering that these are minerals crucial for modern industries and processing technologies for most of them are still developing in India.
The fourth round of critical mineral auctions, covering around twenty blocks, is expected to take place in either June or July. Fertilizer mineral blocks remain highly sought-after, generating significant interest.
Since November 2023, three rounds of critical mineral auctions have been conducted, with results pending. The auctions encompassed minerals such as lithium, rare earth elements (REE), nickel, copper, chromium, phosphorite, potash, glauconite, graphite, manganese, and molybdenum.
In the initial round, twenty blocks were auctioned, with seven receiving insufficient bids or none at all. The blocks will be re-auctioned. Two molybdenum blocks in Tamil Nadu received no bids, while four others attracted fewer than three qualified bidders. The auction for a Gujarat block containing nickel and chromium is pending clearance, causing a delay.
As reported by businessline, an additional seven blocks, initially part of the first tranche, received less than three bids, prompting their inclusion in the third tranche auction, which concludes in May.
The blocks, spanning minerals like glauconite, graphite, nickel, platinum group elements, potash, and titanium, are located in Bihar, Jharkhand, Tamil Nadu, Uttar Pradesh, and Jammu and Kashmir.
