Mines Ministry Proposes Two-Bidder Rule for Mineral Auctions
COAL & MINING

Mines Ministry Proposes Two-Bidder Rule for Mineral Auctions

The Ministry of Mines has proposed a revision to the existing auction framework for mineral blocks, seeking to lower the minimum number of technically qualified bidders required for an auction to proceed. The proposal aims to amend both the Mineral (Auction) Rules, 2015 and the Offshore Areas Mineral (Auction) Rules, 2024.

At present, the auction process requires at least three technically qualified bidders for a mineral block to move forward. If this threshold is not met, the auction stands annulled or must be reinitiated, often causing procedural delays and reduced efficiency in mineral allocation. Under the proposed amendment, the government intends to permit auctions to continue even if only two bidders qualify technically.

This modification is expected to enhance the success rate of first-time auctions, particularly for less commercially attractive mineral blocks that often struggle to attract multiple participants. The move aligns the Mines Ministry’s rules with those of the Ministry of Coal, which, since June 2020, has allowed coal block auctions to proceed with a minimum of two qualified bidders.

The Ministry of Mines has invited feedback from industry stakeholders, state governments, and the general public on the proposed changes. Comments and suggestions can be submitted until October 22. The consultation process will guide the finalisation of the amendment intended to streamline and expedite the mineral auction process across the country.

The Ministry of Mines has proposed a revision to the existing auction framework for mineral blocks, seeking to lower the minimum number of technically qualified bidders required for an auction to proceed. The proposal aims to amend both the Mineral (Auction) Rules, 2015 and the Offshore Areas Mineral (Auction) Rules, 2024. At present, the auction process requires at least three technically qualified bidders for a mineral block to move forward. If this threshold is not met, the auction stands annulled or must be reinitiated, often causing procedural delays and reduced efficiency in mineral allocation. Under the proposed amendment, the government intends to permit auctions to continue even if only two bidders qualify technically. This modification is expected to enhance the success rate of first-time auctions, particularly for less commercially attractive mineral blocks that often struggle to attract multiple participants. The move aligns the Mines Ministry’s rules with those of the Ministry of Coal, which, since June 2020, has allowed coal block auctions to proceed with a minimum of two qualified bidders. The Ministry of Mines has invited feedback from industry stakeholders, state governments, and the general public on the proposed changes. Comments and suggestions can be submitted until October 22. The consultation process will guide the finalisation of the amendment intended to streamline and expedite the mineral auction process across the country.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement