Mineral Blocks Auction

Govt plans to auction offshore mineral blocks in 2-3 months: G Kishan Reddy

The government is planning to begin the auction of offshore mineral blocks in the next two to three months and around 10 such mines are likely to be auctioned in the first phase, coal and mines minister G Kishan Reddy said on Thursday. The government amended the Offshore Areas Mineral (Development and Regulation) Act, 2002, to provide an auction route for awarding production leases for offshore minerals. Offshore minerals are located deep within the earth's crust and are difficult to extract compared to onshore minerals. Speaking to media after the inauguration of mines ministry pavilion at India International Trade Fair, Reddy said the government plans "to auction offshore minerals blocks in two to three months". India's offshore mineral reserves include gold, diamond, copper, nickel, cobalt, copper, manganese, and rare earth elements. The offshore auctions will help increase the availability of these minerals in India and reduce dependence on imports. The minister further said

Govt cancels auction of 13 of 20 critical mineral blocks over poor response

The government on Friday said it has cancelled the auction for 13 of the 20 blocks put on sale in the first tranche of critical minerals as the response was lukewarm. "The e-auction process for 13 mineral blocks was annulled vide notification dated 13 March 2024, wherein no bids were received for two blocks and less than three technically Qualified Bidders (TQB) were there for 11 blocks," the mines ministry said in a statement. Of the 20 blocks put on offer, 56 physical bids and 56 online bids were received for 18 blocks. Of the 11 cancelled blocks, seven mines have been notified for auction under the third round. The second round of auction of six blocks have been completed as per schedule. The decision on kundol, nickel and chromium block in Gujurat will be taken by the designated officer in due course of time, as per the statement. Earlier this month, the government launched the third tranche of auction of critical and strategic minerals. The Centre has launched auction of 38

NLC India jumps 5% as ICRA reaffirms rating on NCDs worth Rs 2,000 cr

That apart, NLC India has also participated in the bidding for 20 blocks in the initial phase of the auction for critical mineral blocks in India.

State govts auctioned 100 mineral blocks from March 2021 to Aug 2022

The state governments have auctioned 100 mineral blocks between March 2021 and August 2022, the Union Ministry of Mines has said

Govt to auction 5 mineral blocks with 667 MT reserves in Gujarat, Karnataka

The identified blocks would be auctioned along with other blocks without pre-embedded clearances

Nine new mineral blocks at Odisha's auctions may draw lukewarm bids

Stakeholders feel these blocks may lose out to the lapsing merchant blocks where it will be easier to recommence mining and achieve seamless production and despatch

Odisha readies 40 mineral blocks for auction; panel to decide on modalities

The blocks to be offered for auctions are a mix of virgin deposits and leases, owned by private miners, which are set to expire by March 31, 2020

Miners want in-principle approvals before auctions of mineral blocks

Delay in securing environment & forest clearances slows the pace of auctions

Over 100 mineral blocks ready for online auctions: Narendra Singh Tomar

Mines ministry on track to auction lapsing leases

Union Mines Ministry moots panel for post auction issues of lapsing leases

Goa has the most number of mines (184) headed for expiry. Next to Goa are Karnataka and Goa with 48 and 31 mining leases respectively

Mineral block auction: Govt mulls single window for green clearances

The government had said that the ministries of mines, steel and environment were working together in this regard

Odisha to auction 31 lapsing mineral blocks, notification likely in 2019

According to the notified rules, mine leaseholders are required to submit exploration plans in 60 days from the date of the notification

Centre plans to auction 12 mineral blocks in August, September

The NIT (notice inviting tender) for the limestone block was out in April

States rush to prepare lapsing blocks for auctions after new MCDR rules

The Odisha government has shown readiness to auction the lapsing mineral blocks

Government to auction 8 more mineral blocks in three states by mid-march

The government has identified eight more mineral blocks with a cumulative reserve of 1,133 million tonnes (MT) in Rajasthan, Chhattisgarh and Jharkhand to be auctioned by mid-march. So far, a total of 88 mineral blocks have been notified by 9 states for auction, of which 33 blocks have been successfully auctioned with an estimated revenue of Rs 1.28 lakh crore over the lease period to the states. Of the eight mines, six are of lime stone - five in Rajasthan and one in Chhattisgarh, one of iron ore and the remaining one is of graphite & quartz - both in Jharkhand. Five of the limestone blocks in Rajasthan - four in Nagaur district and one in Jaisalmer - will be put under hammer on February 7, while the Chhattishgarh mine in district Baloda will go for e-auction on March 12, as per the mines ministry. The remaining two iron ore and graphite & quartz blocks will be auctioned on March 14. These mines have a cumulative reserve of 1,133 million tonnes of limestone, ...