The Ministry of Mines has auctioned eight critical and strategic mineral blocks across five states under Tranche IV, bringing the total auctioned blocks to 22.

Tranche IV of the auctions, launched on June 24, 2024, offered 21 mineral blocks across various states. After an evaluation, ten blocks progressed to the second round of e-auctions, with eight blocks successfully auctioned.

The remaining two blocks will be auctioned by December 2, 2024.

Graphite and vanadium are key to energy storage and green technologies among the mineral blocks auctioned.

The blocks auctioned are in Andhra Pradesh, Arunachal Pradesh, Karnataka, Tamil Nadu and Uttar Pradesh.

Four blocks from the North-East region were auctioned for the first time, expanding the country’s mining frontier. The tranche saw its inaugural successful bids for a tungsten block and two cobalt blocks, essential for high-tech and defense applications.

The auction attracted significant interest from companies like Hindustan Zinc, Vedanta, Mamco Mining Private, Oil India, and Orissa Metaliks.

Premiums ranged from 2.55% to 320%, underscoring the strong demand for these strategic minerals.

In March, the ministry unveiled the third tranche of e-auction for critical and strategic minerals, granting concessions for seven mineral blocks across five states. These blocks, located in Bihar, Jharkhand, Tamil Nadu, Uttar Pradesh, and Jammu & Kashmir, included minerals such as glauconite, graphite, nickel, PGE, potash, lithium, and titanium.

A year ago, the government approved the amendment to the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957, setting reduced royalty rates for three critical and strategic minerals—lithium, niobium, and Rare Earth Elements (REEs)—used in energy transition technologies.

India unveiled its first-ever report on “Critical Minerals for India,” identifying a list of 30 critical minerals, including lithium, cobalt, nickel, graphite, cadmium, silicon, indium and tellurium,  imperative for the development of electric vehicles and solar energy.