The Ministry of Mines has concluded the e-auction of two more mineral blocks under Tranche IV to secure critical and strategic minerals essential for India’s industrial and economic growth.

The two newly auctioned blocks are:

• Ponchi Graphite Block in Jharkhand, awarded to Satguru Mining Private with a final price offer of 752.05%.
• Vadakhol-Asoli Block in Maharashtra, containing nickel, chromium, cobalt, and associated minerals, was awarded to Assam Mineral Development Corporation with a final price offer of 7.05%.

These minerals are critical for India’s energy transition, electronics, defense, and renewable energy sectors.

The development follows the November 7, 2024, announcement of eight preferred bidders, bringing the total number of successful blocks in this tranche to ten.

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.

Progress Across Tranches

The e-auction initiative, which commenced with the notification of the first tranche in November 2023, has now completed four successful tranches. Key highlights include:

• A total of 48 blocks were offered across the four tranches.
• 24 blocks have been successfully auctioned, including four mining leases and 20 composite license blocks.

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.