These blocks contain deposits of strategic minerals such as phosphorite, graphite and vanadium, essential for high-tech and green energy applications.Hindustan Zinc, Vedanta, Oil India, Orissa Metaliks and Mamco Mining have bagged eight critical mineral blocks in the fourth round of auctions. The government had invited bids for these blocks, with bidders quoting the percentage of revenue they intend to share from mining proceeds.
The highest auction premium of 320% has been quoted for the Barwar Phosphorite Block in Uttar Pradesh by Mamco Mining. Endolin-Isholin Graphite Block in Arunachal Pradesh got the second highest auction premium commitment of 237.50%, also quoted by Mamco Mining.
At 2.55%, the Depo Vanadium and Graphite Block received the lowest auction premium.
These blocks contain deposits of strategic minerals such as phosphorite, graphite and vanadium, essential for high-tech and green energy applications.
Commenting on the development, Oil India said it had been selected as the preferred bidder for the Phop Graphite and Vanadium Block in Arunachal Pradesh. The company quoted 76.05% as auction premium for this mine. Hindustan Zinc bagged the Balepalyam Tungsten and Associated Mineral Block in Andhra Pradesh and the Nayakkarpatti Tungsten Block in Tamil Nadu. Vedanta was the highest bidder for the Depo Vanadium and Graphite Block in Arunachal Pradesh and the Sanyasikoppa Cobalt, Manganese and Iron Block in Karnataka.
The critical minerals, essential for high-tech and green energy applications, play a crucial role in reducing the country's dependence on imports.>
