Announces largest number ever of mineral blocks that include strategic and critical minerals
Team News Riveting
Bhopal, July 14
The State of Madhya Pradesh has issued Notice Inviting Tender (NIT) for auction of a record number of 51 mineral blocks on July 14th, 2023.
This is the highest number of mineral blocks notified for auctions in a single tranche by any state. After the introduction of auction regime in 2015, 754 blocks have been put for auctions by various major mineral bearing States, out of which 276 blocks have been successfully auctioned.
These 51 blocks comprises 14 minerals including strategic and critical minerals like Graphite & Vanadium, Platinum Group of Elements (PGE) and also other major minerals such as Manganese, Bauxite, Limestone, Iron Ore, Base metal and Gold. Out of the 51 mineral blocks for which NIT has been issued by Madhya Pradesh, 13 blocks are for Mining Lease and 38 blocks are for Composite License.
During the Financial Year 2022-23 also, Madhya Pradesh was at the forefront among State Governments in terms of mineral block auctions, having auctioned 29 blocks during the financial year. Since the introduction of auction regime in 2015, Madhya Pradesh has notified 125 mineral blocks for auction, of which 46 have been successfully auctioned.
With the notification of these 51 blocks, Madhya Pradesh has also emerged as the State with the highest number of blocks notified for auctions, leading the total tally to 176 mineral blocks.
State Governments of Bihar, West Bengal, Telangana, Punjab, Himachal Pradesh, Haryana and Kerala have not auctioned any blocks since 2015.
