The Ministry of Mines is poised to conduct a significant Pre-bid Conference today, a pivotal step in the auctioning process of critical and strategic minerals. The event, slated to take place at the Dr. Ambedkar International Centre in New Delhi from 11:00 AM onward, will be held in a hybrid format, enabling the participation of diverse stakeholders.

This move follows the announcement of the 1st Tranche of auction of 20 critical and strategic mineral blocks on November 29, 2023, by Mines minister Pralhad Joshi. These mineral blocks span eight States and Union Territories, including Bihar, Chhattisgarh, Gujarat, Jharkhand, Odisha, Tamil Nadu, Uttar Pradesh, and Jammu and Kashmir. The minerals to be auctioned encompass Glauconite, Graphite, Potash, Nickel, PGE, Lithium, REE, Molybdenum, and Phosphorite.

The forthcoming conference aims to address industry queries, engage potential bidders, and involve relevant stakeholders, providing an open forum for discussions and issue resolutions. Dr. Veena Kumari Dermal, Joint Secretary & Designated Officer, Ministry of Mines, will preside over the conference. Experts from MECL (Technical Advisor), SBI Capital Markets Limited (Transaction Advisor), and MSTC (Auction Platform Provider) will present comprehensive details about the blocks, auction procedures, and the auction platform.

With impending deadlines - the last date for queries on 5th January 2024, the final date for sale of the Tender Document on 16th January 2024, and bid submission closure on 22nd January 2024 - the e-auction process to select the preferred bidder is set to commence. All pertinent information about the mineral blocks, auction terms, and timelines are accessible on the MSTC auction platform at www.mstcecommerce.com/auctionhome/mlcl/index.jsp.