Page 2 - Mines Auction

Coal India embarks on overseas acquisition of critical mineral assets

In a bold move to diversify its operations and integrate further into the value chain, Coal India Limited (CIL) is targeting the acquisition of lithium, cobalt, and nickel assets abroad. The company has recently amended its Memorandum of Association (MoA) to include non-ferrous and critical minerals, indicating its commitment to expand its presence in new sectors. In the past, the miner's attempt to acquire coal assets aboard did not fructify. In its pursuit of overseas assets, CIL is currently identifying suitable opportunities for mergers and acquisitions, the management informed its shareholders in its latest annual report. The strategic move reflects the company's vision to secure a steady supply of these critical minerals toward the Atmanirbhar mission of India. In 2022, the Ministry of Mines also created a joint venture company, Khanij Bidesh India Ltd (KABIL), with participating interest from NALCO, Hindustan Copper Ltd and Mineral Exploration Corporation Ltd (MECL). KABIL

States need to expedite auction of mines, says Union minister Pralhad Joshi

Union mines minister Pralhad Joshi on Tuesday said that many states have not auctioned a single mine even after seven years of the auction regime coming into force and urged the states to expedite auctions. Speaking at the 5th National Conclave on Mines & Minerals, he asked the states to unleash the full mineral potential to realise the true value of their resources. However, some mineral rich states are lagging behind in auctioning mineral blocks and achieving actual potential, the minister said, adding that in many states, even after seven years of this auction regime, not even one mine has been auctioned. "I once again appeal to state governments... lot of reforms have been done. My only request and appeal to you is to bring more and more mines into auction," he said. For improving the ease of doing business, the government wants to bring more reforms in the mining sector which are industry-friendly and would bring more investments. "We are already thinking to bring some ...

Govt examining provision to bar non-serious players from mining auctions

Union minister Pralhad Joshi on Wednesday said the Centre is contemplating stringent provision in the Mining Act so that non-serious players are terminated and barred from the auction of mines in the future. While addressing the 15th edition of Global Mining Summit and International Mining & Machinery Exhibition, coal and mines minister Joshi said that recently Odisha has completed the successful auction of large number of iron ore mines. However, some of the successful bidders are trying to evade the process of auctions by delaying the production, he informed. "Such cases will be dealt seriously, and in coordination with the state government, we are contemplating to bring stringent provision in the Act so that non-serious players are terminated and barred from future auctions," the minister said. He said that March was a significant month during which leases of large number of working mines expired and they had to be auctioned immediately. The government took a proactive and ...

Tenders for nine iron ore and manganese blocks in Odisha likely in July

Timing of auctions critical, premiums unlikely to match merchant mines

Karnataka's Dept of Mines & Geology defers e-auction of Donimalai mine

Move follows an order by the Mines Tribunal staying the Karnataka govt's decision tp cancel the Donimalai mining lease to NMDC

Supreme Court allows auction of category-C iron ore mines in Karnataka

The Supreme Court last week allowed the Karnataka government to e-auction the 'C' category of mines that are economically viable. C-category iron ore mines were last to be permitted to restart after mining was banned a few years back and then permitted with a cap. Auctioning mines will be a good news as Karnataka requies much more ore with growing steel capacity but, the industry representatives say that the restriction on participation to the e- Auction for bidding of these mines will fail to bring competitiveness.On September 13, 2017, the Supreme Court has allowed the Karnataka government to e-auction the 'C' category of mines that are economically viable. Though the e-auction process is meant to help bringing the transparency and fetching right value in the complete process of allocation of iron ore mines in Karnataka, but with restricted participation to the e- Auction process with end users and in and around Karnataka only being allowed, it fails to bring competitiveness and ...

Mines auction to fetch states Rs 1.5 lakh cr in 2017-18: Secretary

The first tranche of auctions saw bidding of 21 mine blocks that fetched Rs 73,000 crore

Govt plans to auction 280 mines in FY18

Mines that are intended for sale are worth Rs 10 lakh cr

States gear up to auction 70 mineral blocks in FY18

Tamil Nadu tops the list with 12 blocks ready to go under the hammer in FY18

Auctions become a tool to bypass tough decisions

Auction for mines raises costs, but the aura of transparency it affords makes it extremely attractive for the government, according to experts

Small blocks keep investors from mine bids

Centre anticipates revenue of Rs 59,639 crore from recently concluded auctions of mineral blocks

Mines auction picks up pace, states to get Rs 59,500 crore revenue

The first successful auction took place in Feb 2016, with 2 small limestone blocks in C'garh going under the hammer

Mines auction: States to garner revenues over Rs 35,500 crore

States will garner revenues of around Rs 15,070 crore from the first phase of the auction

States get ready for 2nd phase of mines auction in Sept

Five states -- Karnataka, Andhra Pradesh, Madhya Pradesh, Rajasthan and Jharkhand will offer a total of 29 mines for the auction

Land, dull mkt, restrictive end use impacting mines auction

States had allocated a total of 47 mines bearing minerals such as gold, iron ore, bauxite and limestone for auction in the first round