Coal India, HZL among successful bidders in 5th round of critical mineral block auction
Several companies, including Coal India and Oil India, have secured critical mineral blocks. These blocks were auctioned in the fifth round. The auction included minerals like graphite and potash. Hindustan Zinc also won a rare earth element block. This marks India's first successful potash block auction. The move aims to boost domestic mining and reduce import reliance.
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State-owned Coal India NLC India and Vedanta group firm Hindustan Zinc are among the firms that have bagged critical and strategic mineral blocks under the fifth round of auction. While Coal India Ltd (CIL) has bagged a graphite and vanadium block in Chhattisgarh, Oil India Ltd emerged as a preferred bidder for potash and halite mine in Rajasthan.Another potash and halite in the desert state was bagged by Hindustan Zinc Ltd( HZL ). HZL also bagged the REE (Rare Earth Element) block in Uttar Pradesh in this round of auction.NLC India bagged two phosphorite and limestone blocks in the state of Chhattisgarh.Other companies which have bagged blocks in this round of auction are Sunflag Iron and Steel Co Ltd, Vinmir Resources Pvt Ltd, R K Mineral Development Pvt Ltd and Ramgad Minerals and Mining Ltd."A key milestone under tranche V is the first-ever successful auction of a Potash block by the Government of India, marking a major step towards unlocking domestic Potash resources. The move is expected to catalyse Potash mining in the country, reduce reliance on imports, and strengthen support to the agriculture sector," the mines ministry said in a statement.This milestone also marks the first-ever successful auction of a critical and strategic mineral block in Rajasthan.The fifth round of auction of critical and strategic mineral blocks which was launched on 28th January has concluded with successful auction of 10 out of 15 blocks put on auction, it said.These 10 blocks comprise critical and strategic minerals such as graphite, phosphorite, phosphate, Rare Earth Elements (REE), vanadium, and potash and halite spread across Chhattisgarh, Karnataka, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh.To date, a total of 34 blocks have been successfully auctioned in five tranches out of 55 critical mineral blocks which were put for sale. Regular auction of critical mineral blocks is an important element in the strategy adopted by the mines ministry towards building self-sufficiency in critical minerals in the country.The mines ministry is also focusing on exploration of critical minerals in the country and has launched the National Critical Mineral Mission for development of the critical mineral ecosystem in the country.
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