Ministry of Mines Launches Second Tranche of Auction of Critical and Strategic Minerals
18 Critical Mineral blocks spread across Eight States to be Auctioned; 17 blocks for Composite Licence and One Mineral Block for Mining Lease
The Second Tranche of E-auction of Critical & Strategic Minerals was launched by Union Minister of Parliamentary Affairs, Coal and Mines, Govt. of India, Shri Pralhad Joshi here today, the 29th February 2024. A total of 18 critical mineral blocks are being put up for auction in this 2nd Tranche, out of which 17 mineral blocks are put up for grant of Composite Licence and one mineral block for grant of Mining Lease.
Addressing on the occasion, the Union Minister stated that in the first tranche, Twenty blocks were put up for auction. We are delighted with the interest shown by the mining industry players for their encouraging response. The blocks that are put for auction in the second tranche represents a diverse array of critical and strategic minerals essential for various industries. These minerals consisted of Tungsten, Vanadium, Graphite, Rare Earth Elements, Glauconite, Phosphorite, Nickel, Platinum Group of Minerals, Cobalt, Potash, etc. The Minister highlighted that Potash mining is starting in India, for the first time, with this launch.
The mineral blocks being put up for auction in the second tranche are spread across states of Andhra Pradesh , Arunachal Pradesh, Chattisgarh, Karanataka, Madhya Pradesh, Maharashtra, Rajasthan and TamilNadu.
The commencement of sale of tender documents has started from today itself. The last date for purchase of Tender Document is April 18, 2024, on or before 17:00 hours (Indian Standard Time) and the last date for submission of the bid is April 23, 2024, on or before 17:00 hours (Indian Standard Time).
Details of the mines, auction terms, timelines etc. can be accessed on MSTC auction platform at www.mstcecommerce.com/auctionhome/mlcl/index.jsp
The auction shall be held online through a transparent two stage ascending forward auction process. The eligible bidder shall be selected based on the highest percentage of the value of mineral despatched quoted by them.
During the launch event, letters of financial grants were also handed over to the start-ups in mining and mineral sector. Annual Capacity Building Plan for GSI was also released during the program.
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