Home » News » Mines & Minerals » Ministry of Mines Launches Third Tranche of Auction of Critical and Strategic Minerals

Ministry of Mines Launches Third Tranche of Auction of Critical and Strategic Minerals

The third tranche of E-auction of Critical & Strategic Minerals was launched by the Ministry of Mines today 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.

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Empowering Nature, Nurturing Growth: Coal Sector Transforming Landscapes Through Sustainable Greening Initiatives for the Benefit of Coal Communities

Coal/Lignite PSUs under the guidance and supervision of Ministry of Coal not only increased their ...

Details of Fund Collected Under District Mineral Foundation by Different States

The Central Government under Section 20A of the MMDR Act has issued directions and circulated ...

Bid Due Date Extension till 13th January, 2023 for Ongoing Commercial Coal Mine Auction

Ministry of Coal has launched 6th round of commercial coal mine auctions on November 03, 2022 ...

Iron Ore Production

The Government has not limited the expansion of mines by amending the renewal of licences ...

Efforts to Curb Illegal Mining

The Government has vested power in the State Governments for enacting laws to check illegal ...

Investors conclave on commercial coal mines auction and opportunities in mining sector held in Bengaluru

The Ministry of Coal and the Ministry of Mines jointly held the Investors’ conclave on ...

Treatment of Mine Water

As per Rule 41 of the Mineral Conservation and Development Rules (MCDR), 2017, leaseholders are ...

Illegal mining of beach sand minerals

Ministry of Mines has invited comments/suggestions of the stakeholders viz, Central Government Ministries/Departments, States Governments ...

Coal Ministry Expects Operationalization of 58 Coal Blocks During 2022-23; Targets 138.28 Million Ton Coal Production

The Ministry of Coal has allocated coal blocks for captive end use and sale of ...

Ministry of Coal with the support of Power, Steel and Mines Ministries organizes National Mineral Congress in Bhubaneswar

The Ministry of Coal organized the National Mineral Congress in Bhubaneswar today with the support ...

WP2Social Auto Publish Powered By : XYZScripts.com