TFP Bureau, New Delhi, March 31, 2024: The Ministry of Mines, Government of India, has made significant strides in the auctioning of critical and strategic minerals, as outlined in the Notice Inviting Tender issued on November 29, 2023, under Tranche I of the e-auction by the Central Government. The auction pertained to 20 blocks of Critical & Strategic Minerals, as notified in Part D of the First Schedule of the MMDR Act.
Following the launch of Tranche I, the ministry conducted two roadshows in New Delhi and Bhubaneshwar, Odisha, on December 19, 2023, and February 7, 2024, respectively, alongside a Pre-bid conference on December 22, 2023. These events garnered a positive response from the industry, setting the stage for robust participation. The deadline for bid submissions was February 26, 2024.
Of the 20 blocks, 18 received a total of 56 physical bids and 56 online bids. However, the e-auction process for 13 mineral blocks was annulled due to various reasons, including the absence of bids for two blocks and fewer than three Technically Qualified Bidders (TQB) for 11 blocks. Subsequently, the ministry scheduled a second round of e-auction for six blocks, which has been successfully completed.
Meanwhile, out of the 11 annulled blocks, seven have been earmarked for e-auction under Tranche III, as per the Notice Inviting Tender dated March 14, 2024. The auction process for Tranche III will see the sale of Tender Documents until May 16, 2024, and bid submissions until May 21, 2024.
Simultaneously, the e-auction process for Tranche II, comprising 18 blocks, is currently underway. Interested bidders are advised to visit the MSTC e-auction platform to updates and clarifications. Queries can also be directed to the Designated Officer via email at do-mom@gov.in.
