The Ministry of Mines has successfully auctioned 56 critical and strategic mineral blocks, marking a significant milestone in India's mineral sector. This includes 10 blocks from the Seventh Tranche conducted by the Central Government, taking the total number of auctioned blocks to 56 out of 88 unique blocks offered, representing a successful auction rate of over 63%.
Expansion to New States
For the first time, critical mineral block auctions were held in Gujarat, Uttarakhand, and Telangana. The blocks contain minerals such as graphite, rare earth elements (REE), vanadium, titanium, glauconite, and rock phosphate, broadening the geographic scope of critical mineral exploration across the country.
The auctions were conducted under the Mines and Minerals (Development and Regulation) Act, 1957 and the Mineral (Auction) Rules, 2015, as amended.
Exploration Licence Auctions Rise to 11
In addition, the Ministry completed the second tranche of Exploration Licence (EL) auctions, expanding the framework to Arunachal Pradesh, Uttar Pradesh, and Odisha for the first time. This move aims to boost exploration of critical and deep-seated minerals, opening new opportunities for systematic exploration.
Following the second tranche, the number of Exploration Licence blocks auctioned by the Centre has increased to 11. The EL framework encourages participation from private and public sector entities to explore critical and deep-seated minerals.
Impact on Strategic Sectors
The Ministry stated that these initiatives will accelerate the exploration and development of critical minerals essential for clean energy technologies, electric mobility, renewable energy systems, advanced manufacturing, electronics, defence applications, and other strategic sectors of the economy.
