FCC

Madhya Pradesh invites tenders for auctioning 51 mineral blocks

2023-07-26

In an effort to enhance India's self-reliance in strategic resources, the government of Madhya Pradesh has issued a notice inviting tenders (NIT) for the auction of 51 mineral blocks. This landmark auction expected to be the state's largest ever encompasses the allocation of crucial strategic minerals signifying a significant milestone in India's pursuit of mineral security.

The 51 blocks up for auction consisted of 14 minerals and metals including vital strategic minerals such as graphite vanadium platinum and copper. Additionally, prominent minerals and metals like gold diamond manganese bauxite limestone iron ore phosphorite laterite and base metal will also be included in the auction.

Since the implementation of the auction regime in 2015 several major mineral-rich states have put forth a total of 754 blocks for bidding. Out of these 276 blocks have been successfully auctioned as announced by the Ministry of Mines in a statement released on Friday. Among the 51 mineral blocks for which the NIT has been issued by Madhya Pradesh 13 are designated for mining leases while 38 blocks are reserved for composite licenses according to the Ministry.