Mines ministry launches third e-auction tranche for seven critical mineral blocks, ET EnergyWorld

New Delhi: The ministry of mines launched the third tranche of electronic auctions for seven critical mineral blocks on 14 March 2024. The auction follows sub-rule 10 and sub-rule 11(b) of rule 9 of the Mineral (Auction) Rules, 2015, after these blocks received fewer than three bids in the initial attempt.

The blocks up for auction include minerals such as glauconite, graphite, nickel, PGE, potash, lithium, and titanium, spanning across Bihar, Jharkhand, Tamil Nadu, Uttar Pradesh, and the Union Territory of Jammu and Kashmir.

“38 Critical & Strategic mineral blocks have been put up for auction by the Government till date,” as previously announced by Shri Pralhad Joshi, Union Minister of Parliamentary Affairs, Coal and Mines, during the launch of the first two tranches.

Interested parties can access the sale of tender documents starting March 20, 2024, with the purchase window closing on May 9, 2024, as per the notice on the MSTC e-auction portal and the Ministry’s website. Bids must be submitted by May 14, 2024.

The auction will be conducted online in a transparent, two-stage ascending forward auction process. The selection of the eligible bidder will be based on “the highest percentage of the value of mineral dispatched” as stated by the Ministry.

The government is committed to bring more blocks of critical mineral blocks to auction in a phased manner.

  • Published On Mar 15, 2024 at 08:24 AM IST

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