Coal India Limited has informed the Exchange about General Updates- Preferred Bidder for Oranga- Revatipur Graphite & Vanadium Block of Chhattisgarh auctioned for Mining lease under Tranche V.
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Coal India has been declared the Preferred Bidder by the Ministry of Mines, Government of India for the Oranga-Revatipur Graphite and Vanadium Block in Chhattisgarh, auctioned for a mining lease under Tranche V. The block spans 366.478 hectares and contains an indicated graphite resource of 9.28 million tonnes (average grade 5.48% FC) and a vanadium resource of 0.70 million tonnes (average grade 1211.64 ppm). The company must execute the mining lease deed within 3 years of the Letter of Intent from the State Government, and will pay a mining premium of 189.75% of the value of dispatched minerals to the government.
This is a positive step for Coal India's diversification into critical minerals like graphite (key for batteries) and vanadium, though it is only a preferred bidder status with execution taking up to 3 years. Near-term stock impact may be limited as the lease still needs finalization, but it strengthens Coal India's long-term growth story beyond coal.