In a successful fourth round of auctions for critical and strategic mineral blocks, the Vedanta Group and Oil India Ltd (OIL) emerged as the top winners, securing a range of valuable mineral deposits.
The auction, launched by the ministry of mines, has generated significant interest and marks a new chapter for India’s mineral auction landscape.
Vedanta’s Four Blocks
Vedanta Group bagged four blocks in the auction, highlighting its strong foothold in the critical minerals sector.
Among the blocks won, Vedanta secured a vanadium and graphite mine in Arunachal Pradesh, as well as a cobalt, manganese, and iron (poly-metal) mine in Karnataka.
Hindustan Zinc Ltd (HZL), a subsidiary of Vedanta, bagged two important blocks: one for tungsten and associated minerals in Andhra Pradesh, and another tungsten mine in Tamil Nadu.
These wins add to Vedanta’s earlier success in previous rounds of the auction, where it secured two critical mineral blocks in Karnataka and Bihar.
Oil’s Stake
OIL also made a significant mark in the auction, bagging a graphite and vanadium block in Arunachal Pradesh. This victory bolsters OIL’s presence in the critical minerals market and strengthens its portfolio of mineral assets.
Other Winners
In addition to Vedanta and OIL, two private companies, Mamco Mining Pvt Ltd and Orissa Metaliks Pvt Ltd, successfully secured blocks in this round.
These companies’ participation further diversifies the auction’s success and indicates increasing interest in India’s mineral resources.
A Successful Process
The ministry of mines successfully concluded the auction of eight critical mineral blocks, as part of the fourth tranche of auctions for critical and strategic minerals.
The auction attracted strong industry interest, following the issuance of the notice inviting tender (NIT) for 21 mineral blocks on June 24.
The auction process saw technical bids evaluated, with ten mineral blocks advancing to the second round of the e-auction.
Of these, three were first-attempt blocks, while seven were second-attempt blocks.
These blocks contain strategic minerals such as phosphorite, graphite, and vanadium, all essential for high-tech and green energy applications.
Future Auctions
With the completion of this auction, the total number of successfully auctioned critical and strategic mineral blocks has reached 22. The fourth round also marked several milestones, including the successful auction of tungsten and cobalt blocks for the first time.
The auction process for the remaining two blocks will be completed by December 2.
As reported by hindustantimes.com, this round of auctions has introduced the Northeast region to India’s mineral auction landscape, with four maiden blocks auctioned in the area.
