India set to auction around 100 critical mineral blocks

India is gearing up to auction around 100 critical mineral blocks within the next four months as part of its strategy to secure domestic supplies of essential raw materials required for the green energy transition. These mineral blocks include resources like nickel, lithium, cobalt, platinum, and rare earths. The objective is to support India’s goal of becoming a significant hub for battery and electric vehicle manufacturing, aiding its path to achieve a net-zero target.

Mines Secretary Vivek Bharadwaj mentioned that the legal framework for the auction has been established, and the blocks to be auctioned have been identified. The tender seeking bids is expected to be released by December, with auctions starting about three months later.

India currently doesn’t mine certain critical minerals such as lithium, cobalt, and nickel domestically. To encourage both global and local miners to participate in the auction process, the government is planning to provide half the cost of exploration as reimbursement. Companies that win the bids may require around three years to develop and begin operations in these mines.

The recent changes to India’s mining rules, which allow private miners to explore for critical minerals like lithium, are expected to play a crucial role in facilitating the auction of these mineral blocks. This will especially impact the auction of lithium blocks in regions like Jammu and Kashmir and Karnataka.

State-run companies and energy giants like Coal India Ltd. and NTPC Ltd. are actively exploring opportunities for mining these essential minerals. Additionally, a government-owned joint venture called Khanij Bidesh India Ltd. has been formed to purchase critical mineral assets overseas, primarily in regions such as Australia and South America. These efforts reflect India’s determination to ensure a secure supply of vital resources for its ambitious renewable energy and electric vehicle plans.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

Interested in learning more?

Sign up for Top Insights Today

Top Insights Today delivers the latest insights straight to your inbox.

You will get daily industry insights on

Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

Mozambique targets $80 billion for energy transition, emphasizing renewables

Mozambique has approved a comprehensive energy transition strategy with an estimated value of $80 billion. The nation aims to secure funding from affluent countries to accelerate the integration of renewables and decrease reliance on fossil fuels within its energy portfolio…

Mexican lawmakers advance constitutional reforms to ban open-pit mining

A committee in Mexico’s lower house of Congress has approved two significant constitutional reforms that aim to ban open-pit mining and fracking and restrict the use of genetically modified corn. These reforms, which are part of a broader package proposed by President Andres Manuel Lopez Obrador in February, will…

BHP’s potential takeover of Anglo American raises concerns among Chinese copper smelters

The potential takeover of Anglo American by BHP Group, one of the world’s largest mining companies, has raised concerns among Chinese copper smelters. If successful, the deal would consolidate BHP’s position as a major copper producer, giving it significant control over global copper supplies…

Stay informed

error: Content is protected !!