20 Blocks Of Critical Minerals, Worth Rs 45,000 Crore, Put Up For Auction
NDTV
The auction is important because the minerals, which include lithium and titanium, are essential for the country's economic development and national security.
In a bid to address potential supply chain vulnerabilities for materials like lithium, cobalt and titanium, the Centre launched the first tranche of the Critical and Strategic Minerals Auction on Wednesday. A total of 20 blocks have been put up for auction and their combined value is estimated to be Rs 45,000 crore, Union Minister of Mines Pralhad Joshi said.
The 20 blocks are located in Uttar Pradesh, Gujarat, Jharkhand, Bihar, Odisha, Tamil Nadu, Chattisgarh and Jammu and Kashmir, and composite licences will be issued for 16 of them, while mining licences will be given for the remaining four. Exploration is allowed under composite licences.
The bidder will be selected based on the highest percentage of royalty rates quoted by them. Sale of tender documents will begin on Wednesday itself, and Mr Joshi encouraged prospective bidders to apply.
