Madhya Pradesh invites tenders for auctioning 51 mineral blocks

17 Jul 2023 CW Team

The 51 blocks up for auction consist of 14 minerals and metals, including vital strategic minerals such as graphite, vanadium, platinum, and copper. Additionally, prominent minerals and metals like gold, diamond, manganese, bauxite, limestone, iron ore, phosphorite, laterite, and base metal will also be included in the auction.

Since the implementation of the auction regime in 2015, several major mineral-rich states have put forth a total of 754 blocks for bidding. Out of these, 276 blocks have been successfully auctioned, as announced by the Ministry of Mines in a statement released on Friday.

Among the 51 mineral blocks for which the NIT has been issued by Madhya Pradesh, 13 are designated for mining leases, while 38 blocks are reserved for composite licenses, according to the Ministry.

Data from the Ministry of Mines reveals that the highest number of auctions concluded in the financial year 2022-23 (FY23), totalling 105 auctions. Conversely, FY16 witnessed the lowest number of concluded auctions, with a mere six. As of now, a total of 15 auctions have been concluded in FY24.

Madhya Pradesh, renowned for its abundant mineral wealth, boasts vast reserves of various minerals, including coal, limestone, bauxite, and others. Since 2015, Madhya Pradesh has successfully auctioned a total of 46 blocks, positioning it as the second-highest state in terms of auctions conducted. Odisha leads the country with the auction of 48 blocks.

The Ministry's data reveals that blocks have been made available for auction in 13 states, namely Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, and Goa. However, states such as Bihar, West Bengal, Punjab, Himachal Pradesh, Haryana, and Kerala have yet to conduct any block auctions since 2015.

Since 2015, auctions have taken place in 15 categories, with the highest number of auctions being for iron ore (94, including 2 re-auctions). Other significant categories include limestone (77), bauxite (28), and manganese (26), respectively.

In an effort to enhance India's self-reliance in strategic resources, the government of Madhya Pradesh has issued a notice inviting tenders (NIT) for the auction of 51 mineral blocks. This landmark auction, expected to be the state's largest ever, encompasses the allocation of crucial strategic minerals, signifying a significant milestone in India's pursuit of mineral security.The 51 blocks up for auction consist of 14 minerals and metals, including vital strategic minerals such as graphite, vanadium, platinum, and copper. Additionally, prominent minerals and metals like gold, diamond, manganese, bauxite, limestone, iron ore, phosphorite, laterite, and base metal will also be included in the auction.Since the implementation of the auction regime in 2015, several major mineral-rich states have put forth a total of 754 blocks for bidding. Out of these, 276 blocks have been successfully auctioned, as announced by the Ministry of Mines in a statement released on Friday.Among the 51 mineral blocks for which the NIT has been issued by Madhya Pradesh, 13 are designated for mining leases, while 38 blocks are reserved for composite licenses, according to the Ministry.Data from the Ministry of Mines reveals that the highest number of auctions concluded in the financial year 2022-23 (FY23), totalling 105 auctions. Conversely, FY16 witnessed the lowest number of concluded auctions, with a mere six. As of now, a total of 15 auctions have been concluded in FY24.Madhya Pradesh, renowned for its abundant mineral wealth, boasts vast reserves of various minerals, including coal, limestone, bauxite, and others. Since 2015, Madhya Pradesh has successfully auctioned a total of 46 blocks, positioning it as the second-highest state in terms of auctions conducted. Odisha leads the country with the auction of 48 blocks.The Ministry's data reveals that blocks have been made available for auction in 13 states, namely Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, and Goa. However, states such as Bihar, West Bengal, Punjab, Himachal Pradesh, Haryana, and Kerala have yet to conduct any block auctions since 2015.Since 2015, auctions have taken place in 15 categories, with the highest number of auctions being for iron ore (94, including 2 re-auctions). Other significant categories include limestone (77), bauxite (28), and manganese (26), respectively.