Union Minister for Mines Pralhad Joshi has launched the first-ever tranche auction of critical mineral blocks at a function in New Delhi. Twenty blocks of critical and strategic minerals are being auctioned in the first tranche. The blocks include Graphite, Lithium, Molybednum, nickel, Copper and Potash. They are located in Odisha, Chhattisgarh, Jammu and Kashmir, Uttar Pradesh, Jharkhand, Bihar, Tamil Nadu and Gujarat.
Speaking on the occasion, Mr. Joshi said that it is a landmark initiative that will boost India’s economy, enhance national security and support its transition to clean energy. Later talking to reporters, the Minister said, the estimated value of the 100 blocks of critical and strategic minerals which have been identified up till now is 45,000 crore rupees.
The auction of these critical mineral blocks will culminate close on 28th of February. The auction will be held online through a transparent two-stage ascending forward auction process.
