6 days ago
- Business
- New Indian Express
NLCIL wins two blocks in Tranche V auction of critical minerals in Chhattisgarh; to boost fertiliser, energy sectors
CUDDALORE: Neyveli Lignite Corporation India Limited (NLCIL) has emerged as the preferred bidder for two strategic mineral blocks, Raipura and Semhardih, in the Tranche V auction conducted by the Ministry of Mines. Both blocks, located in Chhattisgarh, contain reserves of phosphorite and limestone, which are essential for India's fertiliser and industrial sectors.
In a press statement on Wednesday, NLCIL said, 'With production of phosphorite from these mines, the huge dependence on imports can be reduced and can greatly contribute to the sustainability and growth of the agriculture sector in the country.'
The company stated that the Raipura block was secured with a final price offer of 8.60%, while the Semhardih block was won with a final offer of 11.05%. 'These acquisitions are aligned with NLCIL's long-term strategy to expand its presence in the mining of critical minerals, which are increasingly vital for clean energy technologies, fertilisers, electronics, and industrial processes,' the statement added.
CMD of NLCIL, S Prasanna Kumar Motupalli, said, 'The acquisition of these critical mineral blocks is a proud moment for NLCIL and a significant step in supporting the Government's vision of ensuring a resilient and sustainable mineral ecosystem. Phosphorite is crucial for food security and the fertiliser industry, and securing these resources strengthens our country's journey towards self-reliance.'
