Ministry of Mines Launches Third Tranche of Auction of Critical and Strategic Minerals

The Ministry of Mines has launched the third tranche of E-auction of Critical & Strategic Minerals. In this auction, a total of 7 critical mineral blocks will be offered as composite licenses. These 7 mineral blocks are being auctioned under the second attempt of auction as per sub-rule 10 and sub-rule 11(b) of rule 9 of Mineral (Auction) Rules 2015. It is important to note that these blocks were notified under this tranche because they received less than three bids in the first tranche. The notice inviting tender (NIT) has been published on the MSTC e-auction portal and the Ministry of Mines website.

Read Also : PNB Q4 results, net profit up by 35% QoQ

These seven blocks pertain to critical minerals such as Glauconite, Graphite, Nickel, PGE, Potash, Lithium, and Titanium and are spread across the States of Bihar, Jharkhand, Tamil Nadu, Uttar Pradesh and Union Territory of Jammu and Kashmir.

The Central Government has launched an auction of a total of 38 Critical & Strategic Minerals to date. The blocks that are put up for auction represent a diverse array of critical and strategic minerals essential for various industries.

Read Also : Over 1000 RINL employees took out a rally for non-transportation of RINL’s most essential raw material

The date for the commencement of the sale of the Tender Document for the third tranche is March 20, 2024. The last date for purchase of Tender Document from the auction platform MSTC is May 09, 2024, and the last date for submission of the bid is May 14, 2024.

Read Also : NTPC Emerges as Champion in AIMA’s Corporate Management Olympiad