Ministry of Mines to begin fourth phase of auction of important and strategic minerals.
Ministry of Mines to begin fourth phase of auction of important and strategic minerals.Ministry of Mines to begin fourth phase of auction of important and strategic minerals.
Shri G. Kishan Reddy, Union Minister of Coal & Mines and Shri Satish Chandra Dubey, Minister of State for Coal & Mines will inaugurate the fourth phase of auction of important and strategic mineral blocks on June 24, 2024 at a function to be held at scope Convention Centre, CGO Complex, New Delhi.
Their lack of extraction and processing or dependence on certain countries can create significant vulnerabilities to our supply chain
Minerals that are important for both economic development and mineral security of the country play an important role. Their lack of extraction and processing or dependence on certain countries can create significant vulnerabilities to our supply chain. In view of this, the Mines and Minerals Development and Control Act, 2023, was amended to give mineral concessions of 24 important and strategic minerals under the Central Government.
The Central government has started three rounds of auction of 38 important and strategic mineral blocks
so far, the Central government has started three rounds of auction of 38 important and strategic mineral blocks spread across 14 states and union territories. The event will announce the names of the bidders of choice for the first installment launched on November 29, 2023.
Certificates will be issued to 02 notified private investigation agencies (NPA) on the occasion
Certificates will be issued to 02 notified private investigation agencies (NPA) on the occasion. Apart from this, grant letters will be given to start-ups and R&D institutions to enhance efficiency in extraction of mineral resources and convert it into viable economic mix and metal. Plans will also be announced for partial reimbursement of research expenses by the research license holders. read more
