Oil India luggage potash-halite block in Rajasthan in first-ever profitable public sale – OXBIG NEWS NETWORK-OxBig News Network

New Delhi [India], May 28 (ANI): Oil India Limited has bagged a vital and strategic mineral block beneath the fifth tranche of public sale carried out by the Ministry of Mines, in line with a press release from the state-owned firm.

Oil India Limited (OIL) has been declared as the popular 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 profitable public sale of Potash blocks by the Government of India, marking a significant step in the direction of unlocking home Potash assets.

“OIL’s strategic diversification into vital minerals represents a well-timed response to nationwide priorities to help India’s self-reliance targets,” the state-owned firm stated.

Separately, NLC India Limited (NLCIL), a state-owned firm beneath the Ministry of Coal, has emerged as the popular bidder for 2 vital and strategic mineral blocks within the just lately concluded Tranche V public sale carried out by the Ministry of Mines.

The two blocks–Raipura and Semhardih, each positioned in Chhattisgarh–contain reserves of Phosphorite and Limestone, important minerals in India’s fertilizer and industrial sectors.

“It is worthy to notice that, with manufacturing of phosphorite from these mines, the large dependence on import will be diminished and may drastically contribute for the sustainability and development of agriculture sector within the nation,” NLCIL stated in a press release.

“These acquisitions are aligned with NLCIL’s long-term technique to broaden its presence within the mining of vital minerals, that are more and more important for clear vitality applied sciences, fertilizers, electronics, and industrial processes,” the assertion added.

On this landmark event, Prasanna Kumar Motupalli, CMD of NLC India Limited, said: “The acquisition of those vital mineral blocks is a proud second for NLCIL and a big step in supporting the Government’s imaginative and prescient of making certain a resilient and sustainable mineral ecosystem. Phosphorite is essential for meals safety and the fertilizer trade, and securing these assets strengthens our nation’s journey in the direction of self-reliance. As we progress in the direction of a sustainable and decarbonized future, vital minerals would be the constructing blocks of new-age applied sciences, inexperienced vitality options, and nationwide prosperity.”

These new mineral belongings complement NLCIL’s portfolio, which incorporates thermal energy, lignite mining, renewable vitality, and upcoming inexperienced hydrogen initiatives. (ANI)

(The story has come from a syndicated feed and has not been edited by OXBIG NEWS NETWORK Staff.)