New Delhi: The government will launch the first round of critical and strategic minerals auction on Wednesday, in which 20 blocks will be auctioned. Twenty blocks of critical and strategic minerals are spread across the country, an official statement said, adding that critical minerals are vital to the country’s economic development and national security.
The auction will be conducted online through a two-stage ascending forward auction process. The Mines Ministry said in a statement on Tuesday that the sale of tender documents will begin from Wednesday.
“Details of mineral blocks, auction conditions, timelines etc. can be seen on the MSTC auction platform,” the statement said.
There is high demand for critical and strategic minerals. The demand for such minerals is usually met by imports. Critical minerals meet the needs of sectors like renewable energy, defense and agriculture.
“This is a historic initiative that will boost our economy, enhance national security and support our transition to a clean energy future,” the ministry said.
There is high demand for critical and strategic minerals. Their demand is usually met by imports. Critical minerals meet the needs of sectors like renewable energy, defense and agriculture.
These minerals are essential for our economic development, country and its security.
“The lack of availability of these minerals or the concentration of their extraction or processing in a few countries can lead to supply chain vulnerabilities. The future global economy will be based on technologies that depend on minerals such as lithium, graphite, cobalt, titanium and rare earths. Elements (REE),” it said.
India has committed to achieve 50 percent cumulative electricity installed capacity from non-fossil sources by 2030. Such an ambitious plan for the energy transition is set to boost demand for electric cars, wind and solar power projects and battery storage systems, leading to growth. Demand for these important minerals.
Recently, through amendment in mining rules, 24 minerals were notified as critical and strategic minerals.
The revenue generated from these auctions will go to the states.
The auction will be conducted online through a two-stage ascending forward auction process. The Mines Ministry said in a statement on Tuesday that the sale of tender documents will begin from Wednesday.
“Details of mineral blocks, auction conditions, timelines etc. can be seen on the MSTC auction platform,” the statement said.
There is high demand for critical and strategic minerals. The demand for such minerals is usually met by imports. Critical minerals meet the needs of sectors like renewable energy, defense and agriculture.
“This is a historic initiative that will boost our economy, enhance national security and support our transition to a clean energy future,” the ministry said.
There is high demand for critical and strategic minerals. Their demand is usually met by imports. Critical minerals meet the needs of sectors like renewable energy, defense and agriculture.
These minerals are essential for our economic development, country and its security.
“The lack of availability of these minerals or the concentration of their extraction or processing in a few countries can lead to supply chain vulnerabilities. The future global economy will be based on technologies that depend on minerals such as lithium, graphite, cobalt, titanium and rare earths. Elements (REE),” it said.
India has committed to achieve 50 percent cumulative electricity installed capacity from non-fossil sources by 2030. Such an ambitious plan for the energy transition is set to boost demand for electric cars, wind and solar power projects and battery storage systems, leading to growth. Demand for these important minerals.
Recently, through amendment in mining rules, 24 minerals were notified as critical and strategic minerals.
The revenue generated from these auctions will go to the states.