India’s Ministry of Mines has launched the 7th tranche of e-auction of critical and strategic mineral blocks for 19 blocks across 10 states. The blocks on offer are critical for sectors like clean energy technologies, advanced manufacturing, fertilizers, and strategic applications.The sale of tender documents will commence from 30th March, the last date for purchase of tender documents is by 5 PM IST on 18th May, while the last date for submission of bids is 25th May. The auction will be conducted online through a transparent two-stage ascending forward auction process, with the eligible bidder selected based on the highest percentage of the value of mineral despatched quoted by them.
The mineral blocks include a Vanadium & Graphite block in Arunachal Pradesh, 4 Glauconite and Vanadium bearing Magnetite-Ilmenite blocks in Bihar, 3 Glauconitic Sandstone and Graphite blocks in Chhattisgarh, a Glauconite block in Gujarat, a REE & Yttrium block in Karnataka, a Titanium, Vanadium & Aluminous Laterite block in Madhya Pradesh, 3 Graphite blocks in Odisha, 2 REE and Tungsten, Lithium & Associated Mineral blocks in Rajasthan, 2 Vanadium, Titanium & Aluminous Laterite blocks in Telangana, and a Rock Phosphate block in Uttarakhand.
Lauding the e-auction mechanism for allocation of mineral resources, Minister for Coal and Mines G Kishan Reddy pointed out that the recent reforms in the Mines and Minerals (Development and Regulation) framework have simplified procedures, reduced delays, and improved ease of doing business. He highlighted measures such as the introduction of Insurance Surety Bonds, aimed at facilitating participation and reducing financial barriers for bidders.While Mines Secretary Piyush Goyal stressed on the importance of cooperative federalism in the success of mineral auctions, the Mines Ministry said in a release that “the Mineral (Auction) Second Amendment Rules, 2025 have streamlined timelines for post-auction processes such as submission of performance security, upfront payment, and issuance of the Letter of Intent, while introducing provisions to ensure timely compliance by stakeholders, thereby enabling faster operationalisation of auctioned blocks.”
Source link
