New Delhi [India], May 28 : Oil India Limited has bagged a critical and strategic mineral block under the 5th tranche of auction conducted by the Ministry of Mines, according to a statement from the state-owned company.
Oil India Limited (OIL) has been declared as the preferred bidder for grant of composite license for the Jorkian - Satipura - Khunja Amalgamated Potash and Halite Block in Hanumangarh district of Rajasthan.
This is the first-ever successful auction of Potash blocks by the Government of India, marking a major step towards unlocking domestic Potash resources.
"OIL's strategic diversification into critical minerals represents a well-timed response to national priorities to support India's self-reliance goals," the state-owned company said.
Separately, NLC India Limited (NLCIL), a state-owned company under the Ministry of Coal, has emerged as the preferred bidder for two critical and strategic mineral blocks in the recently concluded Tranche V auction conducted by the Ministry of Mines.
The two blocks--Raipura and Semhardih, both located in Chhattisgarh--contain reserves of Phosphorite and Limestone, essential minerals in India's fertilizer and industrial sectors.
"It is worthy to note that, with production of phosphorite from these mines, the huge dependence on import can be reduced and can greatly contribute for the sustainability and growth of agriculture sector in the country," NLCIL said in a statement.
"These acquisitions are aligned with NLCIL's long-term strategy to expand its presence in the mining of critical minerals, which are increasingly vital for clean energy technologies, fertilizers, electronics, and industrial processes," the statement added.
On this landmark occasion, Prasanna Kumar Motupalli, CMD of NLC India Limited, stated: "The acquisition of these critical mineral blocks is a proud moment for NLCIL and a significant step in supporting the Government's vision of ensuring a resilient and sustainable mineral ecosystem. Phosphorite is crucial for food security and the fertilizer industry, and securing these resources strengthens our country's journey towards self-reliance. As we progress towards a sustainable and decarbonized future, critical minerals will be the building blocks of new-age technologies, green energy solutions, and national prosperity."
These new mineral assets complement NLCIL's portfolio, which includes thermal power, lignite mining, renewable energy, and upcoming green hydrogen projects.