Shares of Vedanta were trading higher in Monday’s session after the company announced that it has been declared the successful bidder for the Depo Graphite–Vanadium block under India’s critical mineral auctions. The stock was trading at Rs 613.30, up 2.06%, as of 9:30 am on December 29, according to NSE data.
In a regulatory update, Vedanta said it has completed all statutory compliances required for the acquisition, following which it received the successful bidder status for the Depo Graphite–Vanadium block. The company stated that the development further strengthens its critical minerals portfolio, adding to its existing mining operations.
The Depo block comprises graphite and vanadium, both categorised as critical minerals due to their wide industrial usage. Graphite is a key raw material used in battery manufacturing and steel production, while vanadium is commonly used in steel alloys and energy storage systems. The acquisition marks Vedanta’s entry into another strategic mineral asset aligned with evolving industrial demand.
According to the company, the successful bid came after completion of all regulatory and statutory requirements mandated under the mineral auction framework. Vedanta said adherence to these compliances was a key condition for securing mining rights for the block.
The company highlighted that the award of the Depo Graphite–Vanadium block reflects its competitive positioning in the mining sector and its ability to meet regulatory conditions associated with mineral block acquisitions. The block adds to Vedanta’s portfolio of natural resources across metals and minerals.
Vedanta did not disclose the financial details of the block acquisition in the filing. The company noted that the receipt of bidder status is an important step in expanding its mining footprint in critical minerals.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
