India: Ministry of Mines floats tender for auction of 21 critical mineral blocks

The Union Government has invited bids for 21 critical mineral blocks, 10 of which are being auctioned for a second time.

One graphite block in the Palamau district of Jharkhand is being offered for mining and 20 others as composite leases, with prospecting that will lead up to mining.

This is the Central Government's fourth tranche of auctions after it amended laws granting itself powers to auction blocks of minerals such as lithium, rare earth minerals and cobalt. These are critical to India's transition to clean energy. Detailed tender documents, along with timelines, notifications, updates and other details, are available on MSTC Limited's website. Tenders, priced at Rs 3 lakh each (excluding GST), can be purchased up to 5 pm on 28 August, 2024, while bids must be placed before 5 pm on 3 September, 2024. Bidders who had purchased tender documents of the blocks being re-auctioned will not have to buy them afresh.

As per a recent report, the Ministry of Mines had been forced to cancel 11 blocks from its second tranche of auctions. These included five blocks, including those of vanadium, graphite, chromium and potash, due to no takers. Another another 9 blocks, including those of tungsten, limestone and cobalt, had met with a very tepid response, or less than a minimum of three bids.