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NEW DELHI — The Ministry of Mines said on Thursday that it will be conducting a pre-bid conference for the first tranche of auction of critical and strategic minerals on Friday at Dr. Ambedkar International Centre here in hybrid mode.
The Ministry of Mines launched the first tranche auction of 20 critical and strategic mineral blocks on November 29.
These blocks are in eight states and union territories viz, Bihar, Chhattisgarh, Gujarat, Jharkhand, Odisha, Tamilnadu, Uttar Pradesh and Jammu and Kashmir.
The minerals being put up for auction are Glauconite, Graphite, Potash, Nickel, PGE, Lithium, REE, Molybdenum, and Phosphorite.
This conference would help the industry, potential bidders, and various other stakeholders, to reach out to the Ministry of Mines for resolution of relevant queries.
These critical minerals are used to produce high-tech devices such as wind turbines, solar panels, and electronics such as smartphones and tablets and also in military hardware.
Currently China has emerged as the dominant supplier of these minerals and given the geopolitical tensions there is an urgent need to break this near-monopoly to prevent supply disruptions.
The critical mineral blocks auction is aimed at attaining self-sufficiency in the realm of critical and strategic minerals, the ministry said.
The conference will be chaired by Veena Kumari Dermal, Joint Secretary & Designated Officer, Ministry of Mines.
MECL -- Technical Advisor, SBI Capital Markets Limited -- Transaction Advisor and MSTC -- Auction Platform Provider will present details about the auction procedure.
The last date of responses to queries is January 5, 2024, last date of sale of Tender Document is January 16, 2024, and the last date of bid submission is January 22, 2024.
Thereafter, e-auction will commence for selection of preferred bidder.
Details of the mineral blocks, auction terms, timelines etc. can be accessed on MSTC auction platform at www.mstcecommerce.com/auctionhome/mlcl/index.jsp.