Vedanta, Jindal Power and Ola participate in the first tranche of the critical minerals auction | News – Business standard
The first round of auctions was launched in November last year in an effort to boost the country’s clean energy
Mining giant Vedanta, Jindal Power and state-owned NLC India are among the players who participated in the first tranche of the auction of crucial minerals, Union Minister Pralhad Joshi said on Thursday.
A total of 56 bids were received for twenty critical and strategic blocks placed on auction in the first tranche launched in November 2023, the minister told reporters after lunch of the second tranche of the critical and strategic minerals auction .
About 180 inquiries were received from interested parties and 56 bids were received from companies like Vedanta, NLC, Shree Cement, Dalmia and Jindal Power, he said.
The list includes some EV players who also like Ola Electric, he said.
In the first tranche, 20 mineral blocks, including lithium, were auctioned. Of these, 16 have been applied for for the granting of a composite permit and four for the granting of a mining lease.
Earlier in the day, the government launched the second part of its auction of crucial minerals worth an estimated 30 trillion rupees (about $362 billion), mines minister Pralhad Joshi said on Thursday.
A total of 18 blocks of crucial and strategic minerals, including graphite, tungsten, vanadium, cobalt and nickel, will be auctioned in eight states across the country, a government statement said.
Seventeen mineral blocks have been tendered for a composite license, while one block is earmarked for a mining lease, it added. A composite license includes a license to explore and then mine a block.
Mineral blocks are being auctioned in the central Indian states of Maharashtra, Chhattisgarh and Madhya Pradesh, and the southern states of Andhra Pradesh, Karnataka and Tamil Nadu.
Arunachal Pradesh in the east and Rajasthan in the west are also on the list.
The first round of auctions was launched in November last year in an effort to boost the country’s clean energy.
First print: February 29, 2024 | 10:05 PM IST