Vedanta Ltd. has secured a manganese block in Andhra Pradesh through the auction route. The Punnam manganese block spans 152 hectares and is currently at the G4 level of exploration.
The G4 level of exploration, known as reconnaissance, is the broadest and earliest stage of mineral exploration where broad areas are surveyed to identify potential mineral-rich regions.
'The company has been declared as the preferred bidder for the Punnam Manganese block in Andhra Pradesh by the Department of Mines & Geology,' Vedanta has said in a filing to BSE on Thursday.
Grant of the composite license will be subject to fulfilment of conditions, including submission of a performance bank guarantee, statutory clearances, and execution of required agreements with the state government, the filing said.
A composite license, officially called a prospecting licence-cum-mining lease, is a two-stage mining concession that grants the holder the right to both prospect (explore and determine the extent of a mineral deposit) and then, if the exploration is successful and economically viable, to conduct mining operations for that mineral in the designated area.
Vedanta Group is a global leader in critical minerals, transition metals, energy, and technology, with operations spanning India, South Africa, Namibia, Liberia, UAE, Saudi Arabia, Korea, Taiwan, and Japan.
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