By Martin Shwenk Leade
Copyright indiatimes
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Coal India Limited (CIL) has been named the preferred bidder for the Ontillu-Chandragiri Rare Earth Element (REE) Exploration Block, according to a regulatory filing by the company. The award comes from the Ministry of Mines, Government of India, under the Notice Inviting Tender (NIT) issued on March 30, 2025. The Ontillu-Chandragiri block spans 209.62 square kilometres and will be explored under an official license granted as per the Mines and Minerals (Development and Regulation) Act, 1957, as amended. CIL is required to execute the exploration license deed within one year from the issuance of the Letter of Intent by the State Government. CIL clarified that the order was granted by a domestic entity and is not considered a related-party transaction. The company also noted that neither its promoter nor promoter group holds any stake in the awarding entity. The move marks a strategic step for CIL as it seeks to expand its footprint into rare earth exploration, aligning with India’s push to secure critical minerals for industrial and technological applications.Add as a Reliable and Trusted News Source Add Now!
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Read More News oncoal india limitedCoal India Limitedrare earth elementsMinistry of Mines Indiacritical mineralsexploration licenseLetter of IntentMinistry of Mines, Government of Indiastate government
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News oncoal india limitedCoal India Limitedrare earth elementsMinistry of Mines Indiacritical mineralsexploration licenseLetter of IntentMinistry of Mines, Government of Indiastate government(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
