Govt launches second tranche of e-auction of critical & strategic minerals

New Delhi [India], February 29 : Union Minister Pralhad Joshi today launched the second tranche of e-auction of critical & strategic minerals here.
A total of 18 critical mineral blocks are being put up for auction in this 2nd tranche, out of which 17 mineral blocks are put up for grant of composite licence and one mineral block for grant of mining lease, an official statement from the Ministry of Mines said on Thursday.
In a post on X, Pralhad Josh termed the launch of second trance a significant step in contributing to advancing Aatmanirbhar Bharat.
https://x.com/JoshiPralhad/status/1763194192757772400?s=20
Addressing on the occasion, Union Minister of Parliamentary Affairs, Coal and Mines, Pralhad Joshi stated that in the first tranche, twenty blocks were put up for auction. We are delighted with the interest shown by the mining industry players for their encouraging response. The blocks that are put for auction in the second tranche represents a diverse array of critical and strategic minerals essential for various industries. These minerals consisted of Tungsten, Vanadium, Graphite, Rare Earth Elements, Glauconite, Phosphorite, Nickel, Platinum Group of Minerals, Cobalt, Potash, etc, as per the statement.
The Minister highlighted that Potash mining is starting in India, for the first time, with this launch.
The mineral blocks being put up for auction in the second tranche are spread across states of Andhra Pradesh, Arunachal Pradesh, Chattisgarh, Karanataka, Madhya Pradesh, Maharashtra, Rajasthan and Tamil Nadu, the release stated.
The commencement of sale of tender documents has started from today itself. The last date for purchase of Tender Document is April 18, 2024, on or before 5:00 pm and the last date for submission of the bid is April 23, 2024, on or before 5:00 pm.
Details of the mines, auction terms, timelines etc. can be accessed on MSTC auction platform at www.mstcecommerce.com/auctionhome/mlcl/index.jsp
The auction shall be held online through a transparent two stage ascending forward auction process. The eligible bidder shall be selected based on the highest percentage of the value of mineral despatched quoted by them, the release stated.
During the launch event, letters of financial grants were also handed over to the start-ups in mining and mineral sector. Annual Capacity Building Plan for GSI was also released during the program, it stated.