Coal India and Hindustan Zinc Among Key Bidders in Fifth Round of Critical Mineral Block Auction

State-owned enterprises and private firms have secured key mineral blocks in the fifth auction round. Coal India Ltd acquired a graphite and vanadium block in Chhattisgarh. Oil India Ltd emerged as the preferred bidder for a potash and halite mine in Rajasthan. Hindustan Zinc Ltd also won a potash and halite block in Rajasthan, along with a Rare Earth Element (REE) block in Uttar Pradesh.

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NLC India successfully obtained two blocks containing phosphorite and limestone in Chhattisgarh. Other companies like Sunflag Iron and Steel Co Ltd, Vinmir Resources Pvt Ltd, R K Mineral Development Pvt Ltd, and Ramgad Minerals and Mining Ltd also secured blocks during this auction round.

Strategic Mineral Blocks Auction

This auction marks a significant milestone with the first-ever successful auction of a potash block by the Indian government. This move aims to boost domestic potash production, reduce import dependence, and support the agriculture sector. The mines ministry highlighted this achievement as a crucial step forward.

The fifth auction round began on 28th January and concluded with 10 out of 15 blocks successfully auctioned. These blocks include critical minerals like graphite, phosphorite, phosphate, REE, vanadium, potash, and halite across various states such as Chhattisgarh, Karnataka, Madhya Pradesh, Odisha, Rajasthan, and Uttar Pradesh.

Focus on Self-Sufficiency

To date, 34 blocks have been successfully auctioned across five tranches from a total of 55 critical mineral blocks offered for sale. Regular auctions of these minerals are part of the mines ministry's strategy to achieve self-sufficiency in critical minerals within the country.

The ministry is also prioritising exploration efforts for critical minerals through the National Critical Mineral Mission. This initiative aims to develop the critical mineral ecosystem within India.

This strategic approach is expected to enhance domestic capabilities in mining essential minerals, thereby reducing reliance on imports and bolstering national resources.

With inputs from PTI