CrackitToday App

India Auctions 20 Critical Mineral Blocks

India Auctions 20 Critical Mineral Blocks:

India has initiated the auction of 20 blocks containing critical minerals, including lithium, essential for batteries and electric vehicles.

  • The auction began on November 29, involves lithium-rich blocks and other critical minerals like nickel, copper, and rare earth elements.
  • The estimated total value of these blocks is Rs 45,000 crore, marking the first time rights for mining lithium ore are auctioned to private parties.
  • The 20 blocks are distributed across eight states: Tamil Nadu, Odisha, Bihar, Uttar Pradesh, Gujarat, Jharkhand, Chhattisgarh, and Jammu & Kashmir. Understanding where these mineral-rich blocks are located is crucial for comprehending the scope of India’s mineral exploration.
  • Out of the 20 blocks, only four are auctioned for a Mining License (ML), allowing immediate mining operations after obtaining necessary clearances.
  • The remaining 16 blocks are auctioned for a Composite License (CL), permitting geological exploration before converting to an ML.
  • The auction includes two lithium blocks in Jammu & Kashmir and Chhattisgarh, each holding substantial inferred reserves. Nickel, copper, molybdenum, and rare earth elements are also found in these blocks, contributing to India’s strategic reserves.