Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
India launched the second part of its critical minerals auction worth an estimated ₹30 trillion (about $362 billion), the country’s mines minister, Pralhad Joshi, said on Thursday. A total of 18 critical mineral blocks, including tungsten, vanadium, cobalt and nickel, will be auctioned in eight states across the country, including Chhattisgarh, Madhya Pradesh, Karnataka, Maharashtra and Rajasthan, a government statement said.
Seventeen mineral blocks have been put up for a composite licence, while one block is for a mining lease, it added. A composite licence includes a licence to examine a block and mine it afterwards. Joshi added that five states – Maharashtra, Madhya Pradesh, Haryana, Chhattisgarh and Rajasthan – will auction blocks for exploration licence of critical minerals, separately.
Further, he said that in the first round of the first part of auctions launched in November last year, the government received 56 bids from entities, including Vedanta Ltd, Coal India, Shree Cement , Ola Electric, Dalmia group and Jindal Power. The second round of bidding for the first tranche of auctions will be held in mid-March and the bid winner will be announced in mid-April.
Separately, Joshi said there will be no shortage of coal in the country this year. His comments come after the Coal India, the world’s largest miner, lowered its annual production target for the financial year 2025 on adequate stockpiles, last week.
Also Read : India's path to net-zero: Critical minerals demand set to soar Tata Steel CEO: India's Green Steel Future Needs Stronger Policy Backing
Justices Nitin Sambre and Abhay Mantri of the Bombay High Court's Nagpur bench have postponed the tr...
Business 19-Feb-2024
The Government of India has invited bids for the development of off-shore wind energy of a total cap...
Press Releases 02-Feb-2024
Qatar will further raise gas production despite a steep drop in global gas prices, pushing ahead wit...
Europe 26-Feb-2024
Force Motors expects to invest approximately ₹2,000 crores over the next three to four years in sust...
Large Corporate 05-Feb-2024
SC halts Bhushan Power liquidation. JSW Steel gets review opportunity. Major boost for corporate i...
Press Releases 26-May-2025
REC Limited, a Maharatna CPSE under the Ministry of Power, received the Scope Excellence Award in Sp...
Press Releases 20-Jan-2024