India's Strategic Mineral Auction Success: 24 Blocks Sold

The Indian government has successfully auctioned 24 out of 48 critical and strategic mineral blocks in four auction rounds. Satguru Mining Pvt Ltd won the Ponchi graphite block in Jharkhand, and Assam Mineral Development Corp Ltd secured the Vadakhol-Asoli block in Maharashtra. These minerals are crucial for clean energy technologies.

The Indian government announced the successful auction of 24 critical and strategic mineral blocks on Wednesday. These auctions, completed over four rounds, highlight the importance of securing resources for clean energy technologies, such as wind turbines and electric vehicles.

Out of 48 blocks offered in the e-auction process, 24 have been auctioned, comprising four mining lease (ML) and 20 composite license (CL) blocks, according to the Ministry of Mines. The fourth tranche of e-auctions concluded with 10 blocks awarded, including eight preferred bidders disclosed last year.

Notably, Satguru Mining Pvt Ltd acquired the Ponchi graphite block in Jharkhand, while Assam Mineral Development Corp Ltd secured the Vadakhol-Asoli block in Maharashtra. These critical minerals, like cobalt, copper, lithium, and nickel, are integral to developing advanced energy solutions.

(With inputs from agencies.)