Vedanta declared preferred bidder for Karnapodikonda bauxite block in Odisha

Vedanta has been declared the preferred bidder for the Karnapodikonda bauxite block in Odisha following a competitive auction conducted by the state government.

In a regulatory filing, the company said it received a 'Declaration of Preferred Bidder' notification from the Directorate of Mines and Geology, Government of Odisha, on 27 February 2026. The tender process was initiated through a Notice Inviting Tender dated 4 December 2025 for grant of a mining lease for the block.

After qualifying at the initial bid stage, Vedanta participated in the live e-auction process and emerged as the preferred bidder.

According to the tender document, the Karnapodikonda bauxite block is classified at the G2 level of exploration and spans a total area of 532.747 hectares.

 

The company said the acquisition aligns with its strategic objective of backward integration for its aluminium business, strengthening long-term raw material security.

Vedanta is a global producer of critical minerals, energy transition metals, power, and technology, with operations across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan. It is the worlds largest integrated zinc producer, the fourth-largest silver producer, and among the top aluminium producers globally. Vedanta is also Indias only private oil and gas producer and one of the countrys largest private power generators.

On a consolidated basis, Vedanta's net profit surged 60.98% to Rs 5,710 crore while revenue from operations jumped 36.95% YoY to Rs 23,369 crore in Q3 December 2025.

Shares of Vedanta fell 2.56% to settle at Rs 718.45 on Friday, 27 February 2026.

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