BAJAJ BROKING
Vedanta Ltd secures two critical mineral blocks in Karnataka and Bihar, advancing exploration of nickel, chromium, and PGE. The blocks are at the G3 and G4 exploration stages, positioning Vedanta as a preferred bidder.
Vedanta share price is likely to remain in focus after the company announced a significant achievement in securing two critical mineral blocks, located in Karnataka and Bihar. This development was confirmed in a filing to the Bombay Stock Exchange (BSE) on Sunday.
Recently, Vedanta had announced its plan to raise ₹6,688 crore through QIP for capex expansion and debt reduction.
Vedanta Ltd has been declared the preferred bidder for two mineral blocks:
Gollarahatti-Mallenahalli Nickel Chromium and PGE Block in Karnataka - This block is currently at the G4 level of exploration.
Genjana Nickel, Chromium, and PGE Block in Bihar - This block is at the G3 level of exploration.
The Exploration of mineral deposits is a meticulous process, divided into four stages:
Reconnaissance Survey (G4): The initial stage involves broad-based geological mapping and sampling.
Preliminary Exploration (G3): A more focused investigation to delineate the mineralized zone.
General Exploration (G2): Intensive work to establish the size, shape, structure, and grade of the mineral deposit.
Detailed Exploration (G1): Final stage to precisely define the ore body and its economic viability.
The blocks were auctioned in different rounds. Gollarahatti-Mallenahalli Block was auctioned in the second round of critical mineral blocks auction. Genjana Block was part of the third round of auctions.
Strategic Importance
Winning these bids positions Vedanta as a key player in the exploration and potential production of essential minerals, including nickel, chromium, and PGE. These elements are crucial for various industries, including electronics, automotive, and aerospace, highlighting the strategic importance of Vedanta's latest acquisitions.
Vedanta share price closed at ₹441 on Friday, with a loss of 2.30%.
Vedanta’s successful bids for these mineral blocks underscore its commitment to expanding its mineral portfolio and enhancing its exploration capabilities. The focus on nickel, chromium, and PGE aligns with global trends toward securing critical minerals for technological advancements and industrial applications.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Share Market Today | Gift Nifty Signals 100-Point Gap Down, Nifty to Consolidate
06 Sep, 2024 | 4 Min. read
KEC International Secures ₹1,423 Cr Transmission Line Order in Saudi Arabia
06 Sep, 2024 | 1 Min. read
Ashoka Buildcon’s Viva Highways Monetises Pune Land for ₹453 Crore
06 Sep, 2024 | 2 Min. read
Peak Partners To Sell 11% Stake in Indigo Paints via Block Deal
06 Sep, 2024 | 2 Min. read
US Initial Jobless Claims Drop to 227,000 in August.
06 Sep, 2024 | 1 Min. read
Commodities Market Today | WTI Crude Steady at $69.18, Gold Rises 0.8% to $2,546
06 Sep, 2024 | 1 Min. read
Gold Rate Today | Gold Rises 0.8% to $2,546, Silver Gains 2% to $29.14
06 Sep, 2024 | 2 Min. read
Vodafone Idea Share Price Falls 11% After Goldman Sachs Report
06 Sep, 2024 | 1 Min. read
Suzlon Energy Share Price Rises After Corporate Office Sale
06 Sep, 2024 | 1 Min. read
Why is the Stock Market Down Today? Key Factors Explained
06 Sep, 2024 | 1 Min. read
Sona BLW Precision Forgings Plans ₹2,400 Crore QIP at ₹675-700 per Share
05 Sep, 2024 | 1 Min. read
Commodities Market Today | Crude Oil Drops, Brent Hits Low; Gold and Silver Rise
05 Sep, 2024 | 1 Min. read
Analysis to Become a Pro Investor
28 Dec, 2023 | 4 Min. read
Women In Real Estate Investing (Investree)
28 Dec, 2023 | 5 Min. read
How To Check Prudent Corporate Advisory IPO Allotment Status
27 Dec, 2023 | 3 Min. read
How To Boost Credit Score? – Steps to Improve Creditworthiness
27 Dec, 2023 | 4 Min. read
Advantages and Disadvantages of Opening Multiple Demat Accounts
26 Dec, 2023 | 4 Min. read
7th CPC LTC: Leave Travel Concession Rules for Central Government Employees
26 Dec, 2023 | 4 Min. read
7th Pay Commission: House Building Advance (HBA) Interest Rate FY 2023-24
26 Dec, 2023 | 5 Min. read
The Future of Trading: Exploring Bajaj Broking’s Demat Features
26 Dec, 2023 | 6 Min. read
7th Central Pay Commission Cpc Fitment Table
23 Dec, 2023 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading