Major Companies, Including Tata Steel and NMDC, Contemplate Bids for Crucial Mineral Blocks

In a historic move, India is set to conduct its inaugural auction for critical mineral blocks in January, drawing interest from industry giants such as Tata Steel, Vedanta, and NMDC. These companies are reportedly in the early stages of assessing bids for the upcoming auction, as confirmed by sources familiar with the matter.

The central government recently identified 30 critical minerals, including cobalt, copper, graphite, lithium, nickel, silicon, strontium, titanium, zirconium, and cadmium. These minerals are pivotal for various industrial applications and are integral to the country's economic development.

The first auction round, comprising four mineral blocks for lease and 16 blocks for a composite license, is scheduled with a deadline for bid submissions set for January 22. Companies are actively strategizing their participation in this landmark auction, recognizing the potential significance of securing access to these critical mineral resources.

Responding to a query from Business Standard about Tata Steel's involvement, a spokesperson for the company stated, “We are evaluating the government’s proposal on this,” indicating a careful consideration of the critical minerals auction process. As the deadline approaches, industry observers anticipate robust competition and strategic bids from major players, further shaping the landscape of India's critical minerals sector.

BS