Oil & NLCIL Capture Crucial Mineral Blocks in Landmark Auction

In a significant development for India's mining and mineral sectors, state-owned Oil India Limited (OIL) has clinched a crucial mineral block under the 5th tranche auction overseen by the Ministry of Mines. OIL emerged as the preferred bidder for a composite license of the Jorkian - Satipura - Khunja Amalgamated Potash and Halite Block, located in Rajasthan's Hanumangarh district.

This auction marks a historic moment as the first-ever successful sale of potash blocks in India, highlighting the government's ambition to tap into domestic Potash reserves. According to OIL, this strategic move aligns with the national agenda of enhancing India's self-reliance in critical minerals.

Meanwhile, NLC India Limited (NLCIL), another state-owned entity, has been identified as the preferred bidder for two mineral-rich blocks in Chhattisgarh during the same auction round. The Raipura and Semhardih blocks house substantial Phosphorite and Limestone reserves, vital components for India's fertilizer and industrial sectors. The acquisition is a pivotal piece of NLCIL's strategy to expand its footprint in the critical minerals domain, key for agriculture, clean energy technologies, and industrial applications. This initiative aligns with the country's pursuit of a sustainable, resilient mineral ecosystem, contributing significantly to food security and national prosperity.

(With inputs from agencies.)