The Indian government is gearing up to auction approximately 20 critical mineral blocks in its fourth round of auctions by the end of June, according to Mines Secretary V L Kantha Rao.
This announcement comes as the auction process for seven critical mineral blocks from the initial round nears completion, with results expected within a month.
Critical minerals such as copper, lithium, nickel, cobalt, and rare earth elements are in high demand due to their integral role in various clean energy technologies, including wind turbines, electric vehicles, and electricity networks. As global transitions to cleaner energy accelerate, the demand for these minerals continues to soar.
During an event, Rao highlighted the government's focus on mineral exploration, citing the exploration of over 100 critical mineral blocks in the past two years.
He emphasized that sufficient supply is available for auction and encouraged industry players to evaluate and bid for these blocks.
Rao also disclosed plans for the commencement of offshore mines auction within the next three months, further diversifying the government's mineral auction initiatives.
Previously, the government had cancelled the auction for 13 out of the initial 20 blocks due to a tepid response.
Despite this setback, the second round of auctions covering six blocks was successfully completed, while seven mines from the initial batch have been earmarked for auction in the third round.
The fate of Kundol, nickel, and chromium blocks in Gujarat will be determined by the designated officer in due course.
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