Madhya Pradesh govt floats tender for auction of 51 Mineral Blocks

The government of Madhya Pradesh has achieved a remarkable milestone by floating a tender for the auction of 51 mineral blocks in a single tranche. This marks the highest number of blocks ever notified for auctions in the country. The mineral blocks encompass a wide range of valuable resources, including graphite, vanadium, and platinum group of elements (PGE). Additionally, the auction includes blocks containing manganese, bauxite, limestone, iron ore, base metal, and gold.

Out of the 51 blocks, 13 have been designated for mining leases, while the remaining 38 are for composite licenses. This commendable effort by the state has positioned Madhya Pradesh as the leading state in terms of issuing tenders for mineral block auctions during the financial year 2022-23 (FY23). In that period, the state successfully auctioned 29 blocks, surpassing other states.

Since the introduction of the auction regime in 2015, Madhya Pradesh has notified a total of 125 mineral blocks for auction, with 46 successfully auctioned thus far. The recent notification of these 51 blocks brings the state's total number of mineral blocks put up for auction to an impressive 176.

In total, state governments across the country have put up 754 blocks for auctions since the introduction of the regime. Out of these, 276 blocks have been successfully auctioned, highlighting the significant role of mineral block auctions in promoting sustainable resource development.

However, several states, including Bihar, West Bengal, Telangana, Punjab, Himachal Pradesh, Haryana, and Kerala, have not yet conducted any block auctions since 2015, indicating potential untapped opportunities for resource exploration and economic growth in these regions.