Potash Blocks Auctioned For First Time As India Hands Out 10 Mining Leases

(MENAFN- Live Mint) The government has successfully concluded the auction of 10 out of 15 critical and strategic mineral blocks put up for bidding under the fifth tranche launched on 28 January.

These 10 blocks comprise critical and strategic minerals such as graphite, phosphorite, phosphate, rare earth elements, vanadium; and for the first time, potash and halite spread across Chhattisgarh, Karnataka, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh.

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State-owned Coal India Ltd has secured the mining lease for the Oranga-Revatipur graphite and vanadium block in Chhattisgarh. Oil India Ltd and Hindustan Zinc Ltd won the first-ever auction of potash and halite blocks in Rajasthan.

The other winners include Vinmir Resources Pvt., R K Mineral Development Pvt., Sunflag Iron and Steel Co. Ltd, NLC India Ltd, Ramgad Minerals and Mining Ltd.

With this, the total number of blocks auctioned by the Central Government has reached 34.

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A key milestone under trache V is the first-ever successful auction of a potash block, marking a major step towards unlocking domestic resources of the reserve to help the agriculture sector. This milestone also marks the first-ever successful auction of a critical and strategic mineral block in Rajasthan.

“For the First Time in India! Paving the Way for Potash Mining...India takes a bold leap towards self-reliance in fertiliser minerals...By unlocking the potential of potash mining, we are set to reduce import dependence and strengthen the backbone of our agriculture-our farmers!,” coal and mines minister G. Kishan Reddy said in a post on X.

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Till date a total of 34 blocks have been successfully auction in 5 tranches out of 55 critical mineral blocks which were put for auction. Regular auction of critical mineral blocks is an important element in the strategy adopted by ministry of mines towards building self-sufficiency in critical minerals in the country.

The ministry of mines is also focusing on the exploration of critical minerals in the country and has launched the National Critical Mineral Mission to ensure self-sufficiency.

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