India Auctions 10 Critical Mineral Blocks, Expanding Exploration to New States
Quick Look
- India successfully auctioned 10 critical and strategic mineral blocks, bringing the total to 56.
- This expansion includes first-time auctions in Gujarat, Uttarakhand, and Telangana for minerals like graphite and rare earth elements, aiming to bolster domestic supply chains.
AI-generated summary
Why It Matters
India has expanded its critical mineral exploration by auctioning 10 new blocks, including for the first time in Gujarat, Uttarakhand, and Telangana. This brings the total to 56 auctioned blocks, aiming to strengthen domestic supply chains.
New Delhi: The Centre on Tuesday sold 10 critical and strategic mineral blocks in the seventh round of auction, taking the cumulative total to 56 mines.
That amounts to a success rate of more than 63 per cent, with 56 of the 88 distinct mineral blocks the Centre put up for auction being sold.
The Seventh Tranche marked a significant expansion of country's critical mineral exploration landscape, with critical mineral blocks auctioned for the first time in Gujarat, Uttarakhand and Telangana by the Centre.
The tranche included minerals such as graphite, rare earth elements (REE), vanadium, titanium, glauconite, rock phosphate and associated minerals, further widening the geographical reach of critical mineral exploration in the country.
"These successful auctions have taken the total number of critical and strategic mineral blocks successfully auctioned to 56, marking a significant step towards strengthening domestic mineral supply chains and advancing India's critical mineral mission," the mines ministry said in a statement.
The seventh round of auction was launched through the Notice Inviting Tender (NIT) issued on March 23, offering 19 mineral blocks comprising critical and strategic minerals.
The auction was conducted under the provisions of the Mines and Minerals (Development and Regulation) Act, 1957 and the Mineral (Auction) Rules, 2015, as amended from time to time.
Alongside critical mineral auctions, the Ministry successfully completed the second round of exploration licence auctions, further strengthening the country's exploration ecosystem.
The second tranche marked the expansion of the exploration licence framework to Arunachal Pradesh, Uttar Pradesh and Odisha for the first time by the Central Government, opening new opportunities for exploration of critical and deep-seated minerals.
Open Questions
- What are the specific quantities of minerals auctioned?
- What are the projected timelines for extraction?
- What are the environmental impact assessments for these new blocks?
