Union Mines Minister G. Kishan Reddy on Monday launched a fresh tranche of auctions for mining rights in 21 blocks of critical and strategic minerals, announced winners for six blocks that were part of the first such auction held last November, and promised to kick off the auction process for offshore minerals in his first 100 days in office.
Mr. Reddy said that the auction of mining rights in offshore areas will begin with 10 offshore blocks that have been identified. The first mining activity for critical minerals is likely to yield Phosphorite, Lithium, Graphite and Manganese, in the first six blocks awarded in Odisha, Tamil Nadu, Uttar Pradesh and Chhattisgarh.
“This is the beginning of India’s critical minerals journey and we will work to ensure that these mines awarded today, will begin production at the earlier possible,” Mines Secretary V.L. Kantha Rao said, adding that the government is keen to attain self-sufficiency in the import-dependent sector.
As many as 10 of the 21 critical mineral blocks put up for auction in the latest tranche had been included in earlier rounds as well, but had found no takers. The ministry is hopeful of evincing more interest from potential investors this time around.
