The government has initiated the auction of twenty critical minerals valued at ₹45,000 crore, including two lithium blocks – one located in Jammu and Kashmir and the other in Chhattisgarh. The auction encompasses mineral blocks spread across states such as Chhattisgarh, Uttar Pradesh, Tamil Nadu, Odisha, Jharkhand, and Bihar. The auction process is scheduled to conclude on February 20, with sixteen blocks available for the grant of a composite license and four for the grant of a mining lease.
In February, India discovered its first lithium deposits in Jammu and Kashmir, estimating reserves at 5.9 million tons. Subsequently, in July, the government revised its mining regulations to permit private miners to explore these resources. As reported by DECCAN HERALD, The significance of critical minerals has grown due to their vital role in the nation’s economic advancement and security.
The demand for these minerals, crucial in sectors such as renewable energy, defence, and agriculture, is typically met through imports. Recognising their pivotal role, the auction aims to address the demand for critical and strategic minerals, essential for both the economic development and security of the country.
