Ministry of Mines Auctions 8 Strategic Mineral Blocks Under Tranche IV

08 Nov 2024 CW Team

The Ministry of Mines has successfully auctioned eight critical and strategic mineral blocks across five states under Tranche IV of its mineral auctions, bringing the total number of auctioned blocks to 22. Launched on June 24, 2024, Tranche IV initially offered 21 mineral blocks, with ten progressing to the second round of e-auctions, and eight blocks awarded.

The blocks auctioned are located in Andhra Pradesh, Arunachal Pradesh, Karnataka, Tamil Nadu, and Uttar Pradesh. Notably, four blocks from the North-East region, including Arunachal Pradesh, were auctioned for the first time, signaling an expansion of India’s mining frontier.

Key minerals in this auction include graphite and vanadium, essential for energy storage and green technologies, as well as tungsten and cobalt, which are vital for high-tech and defense applications. The auction saw active participation from major companies such as Hindustan Zinc, Vedanta, Mamco Mining Private, Oil India, and Orissa Metaliks, with premiums ranging from 2.55% to 320%.

The remaining two blocks from Tranche IV will be auctioned by December 2, 2024.

Earlier this year, the ministry launched its third tranche of auctions, granting concessions for seven mineral blocks across five states. These included minerals critical for energy transition, such as lithium, nickel, and Rare Earth Elements (REEs). The government also amended the Mines and Minerals (Development and Regulation) Act, 1957, setting reduced royalty rates for lithium, niobium, and REEs.

India’s growing focus on critical minerals aligns with its push towards clean energy and electric vehicle development. The government’s first-ever report on “Critical Minerals for India” identified 30 minerals essential for advancing renewable technologies, further highlighting the strategic importance of these auctions.

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