BHUBANESWAR: Bharat Aluminium Company (BALCO) has been designated as the leading bidder for the Karlapat bauxite block, which has an estimated reserve of 248 million tonnes located in the Kalahandi district.
The subsidiary of Vedanta Ltd, based in Korba, offered a premium of 175 percent, marking it as the highest bid among competitors.
Numerous prominent metal companies competed for the Karlapat block, which is known for its 165 million tonnes of high-quality metallurgical-grade bauxite, ideal for aluminium production.
The live e-auction took place on Thursday, culminating in BALCO being recognized as the top bidder. The Directorate of Geology, Odisha, had opened the bidding process for this mining block on May 29.
As a result of this acquisition, Vedanta will now operate two bauxite mines in Odisha, with the other being the Sijimali bauxite block in the Rayagada district.
The aluminium giant has already invested approximately Rs 1 lakh crore in Odisha, primarily through its aluminium smelter located in Jharsuguda, which ranks among the largest in the world, and the alumina refinery situated in Lanjigarh, Kalahandi district.
Additonally, the company has pledged another Rs 1 lakh crore to the state for the development of a 6 million tonne per annum (MTPA) alumina refinery in Rayagada, a 3 MTPA aluminium smelter in Dhenkanal, initiatives for green aluminium production utilizing renewable energy, and the establishment of aluminium parks along with downstream industries.
