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Ministry of Mines launches 3rd Tranche of Auction of Critical and Strategic Minerals

By TIOL News Service

NEW DELHI, MAR 15, 2024: THE third tranche of E-auction of Critical & Strategic Minerals was launched by the Ministry of Mines yesterday i.e., 14th March 2024. A total of 7 critical mineral blocks are being put up for auction as composite license in this 3rd Tranche. These 7 mineral blocks are auctioned under second attempt of auction as per sub-rule 10 and sub-rule 11(b) of rule 9 of Mineral (Auction) Rules 2015. The notice inviting tender (NIT) has been published on MSTC e-auction portal and on the Ministry of Mines website. The blocks which are notified under this tranche are those blocks which have received less than three bids in first tranche.

These seven blocks pertains to critical minerals such as Glauconite, Graphite, Nickel, PGE, Potash, Lithium, and Titanium and are spread across the States of Bihar, Jharkhand, Tamil Nadu, Uttar Pradesh and Union Territory of Jammu and Kashmir

The Central Government has launched auction of a total of 38 Critical & Strategic Minerals till date. The first tranche and second tranche consisting of 20 and 18 blocks respectively were launched by Union Minister of Parliamentary Affairs, Coal and Mines, Govt. of India, Shri Pralhad Joshi on 29.11.2023 and 29.02.2024 respectively. The blocks that are put up for auction represents a diverse array of critical and strategic minerals essential for various industries.

The date for commencement of sale of Tender Document for third tranche is March 20, 2024. The last date for purchase of Tender Document  from e- auction platform MSTC is May 09, 2024 on or before 17:00 hours (Indian Standard Time) and the last date for submission of the bid is May 14, 2024 on or before 17:00 hours (Indian Standard Time).

Details of the mines, auction terms, timelines etc. can be accessed on MSTC auction platform at www.mstcecommerce.com/auctionhome/mlcl/index.jsp. The auction shall be held online through a transparent 2 stage ascending forward auction process. The eligible bidder shall be selected based on the highest percentage of the value of mineral despatched quoted by them.

The Government is committed to bring more blocks of critical mineral blocks to auction in a phased manner.


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