The ministry of mines initiated the third tranche of E-auction for critical and strategic minerals. Seven critical mineral blocks are being offered for auction as composite licenses in this phase. These blocks, governed by sub-rules 10 and 11(b) of rule 9 of the Mineral (Auction) Rules 2015, are being re-auctioned due to receiving less than three bids in the first tranche.
The Notice Inviting Tender (NIT) has been issued on the MSTC e-auction portal and the ministry of mines website. These blocks include minerals like glauconite, graphite, nickel, PGE, potash, lithium, and titanium, situated across Bihar, Jharkhand, Tamil Nadu, Uttar Pradesh, and the Union Territory of Jammu and Kashmir. This marks the auction of a total of 38 critical and strategic minerals by the government.
The first and second tranches, comprising 20 and 18 blocks respectively, were launched by the government in November 2023, and February 2024. As reported by Business Standard, these blocks cater to a wide range of critical and strategic minerals essential for various industries. The sale of Tender Document for the third tranche is set to commence on March 20, 2024.
