Bhubaneswar, Aug. 8 -- Bharat Aluminium Company (BALCO), a subsidiary of Vedanta Ltd, has emerged as the preferred bidder for the 248-million-tonne Karlapatbauxite block in Kalahandi district after quoting a 175 per cent premium, the highest bid in the auction.

According to The New Indian Express, the live e-auction for the mining block was held on Thursday. The Directorate of Geology, Odisha, had invited bids for the block on May 29, with several major metal companies participating in the auction.

The Karlapat block contains around 165 million tonnes of high-quality metallurgical-grade bauxite, making it suitable for aluminium production. Spread across 1,822.61 hectares, the block is located on the Karlapat Plateau, which is known for ...