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 world’s largest integrated zinc producer, the fourth-largest silver producer, and among the top aluminium producers globally. Vedanta is also India’s only private oil and gas producer and one of the country’s 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.