Ministry Announces Preferred Bidders in First Round of Critical Mineral Blocks Auction

The government is set to reveal the preferred bidders for the first round of critical and strategic mineral blocks auction. This announcement will coincide with the launch of the fourth round of the auction. Union Minister G Kishan Reddy and Minister Satish Chandra Dubey will spearhead the event.

In a significant move, the government on Monday will announce the preferred bidders for the first round of critical and strategic mineral blocks auction. This pivotal declaration comes amidst the commencement of the fourth round of auction for these vital resources.

The Ministry of Mines revealed that Union Minister of Coal and Mines G Kishan Reddy, alongside Minister of State for Coal and Mines Satish Chandra Dubey, will oversee the launch of the fourth round of auctions. The preferred bidders for the first tranche, initiated on November 29, 2023, will be named during the event.

To date, the Centre has introduced three tranches of auctions, covering 38 critical and strategic mineral blocks across 14 states. However, the first tranche saw a lukewarm response, leading to the cancellation of 13 out of 20 blocks initially offered. Subsequent tranches have seen improved participation, with the second round of six blocks completed as per schedule.