Vedanta Group bags four critical mineral blocks, OIL one

Vedanta Group has won 4 blocks portion state-owned Oil India Ltd (OIL) bagged 1 successful the 4th circular of captious mineral blocks auction, the authorities said connected Thursday.

While Vedanta bagged vanadium and graphite excavation successful Arunachal Pradesh, cobalt, manganese and robust (poly-metal) excavation successful Karnataka, Hindustan Zinc Ltd (HZL) -- a subsidiary of Vedanta -- won tungsten and associated minerals artifact successful Andhra Pradesh and a tungsten excavation successful Tamil Nadu.

Oil India Ltd has bagged graphite and vanadium artifact successful Arunachal Pradesh, the authorities said.

Vedanta Ltd had earlier bagged 2 captious mineral blocks successful Karnataka and Bihar successful the 2nd and 3rd auction rounds.

Mamco Mining Pvt Ltd and Orissa Metaliks Pvt Ltd are the different 2 companies that person bagged blocks successful this circular of auction.

"The Ministry of Mines has successfully concluded the auction of 8 captious mineral blocks, launched nether tranche IV of the auction of captious and strategical mineral blocks," an authoritative connection said.

Following the issuance of the Notice Inviting Tender (NIT) for 21 mineral blocks connected June 24, the auction attracted beardown involvement from manufacture stakeholders.

"After the valuation of method bids, 10 mineral blocks precocious to the 2nd circular of e-auction, which included 3 archetypal effort blocks and 7 2nd effort blocks," the mines ministry said.

These blocks incorporate deposits of strategical minerals specified arsenic phosphorite, graphite, and vanadium, indispensable for high-tech and greenish vigor applications.

Auction process for the 8 blocks person successfully concluded and for the remaining 2 blocks the process volition beryllium completed by December 2.

With the auction of these captious mineral blocks, the full fig of successfully auctioned captious and strategical mineral blocks has reached 22.

The 4th circular of auction has marked a opening for the Northeast into India's mineral auction landscape, with 4 maiden blocks successfully auctioned.

Significantly, this tranche features the archetypal palmy auction of a tungsten artifact and 2 cobalt blocks.

These strategical minerals are indispensable for high-tech, defence, and vigor retention applications, and volition lend towards reducing import dependency.