 "Ahead of the first offshore mineral auctions, the central government has introduced royalty rates for construction sand, polymetallic nodules, and overburden or waste—key minerals to be extracted through offshore mining. The royalty rate for dolomite")
The government on Wednesday said that 24 critical and strategic mineral blocks have been sold in four rounds of auction.
"Out of 48 blocks put to e-auction, 24 have been successfully auctioned, including four mining lease (ML) and 20 composite license (CL) blocks," the mines ministry said in a statement.
The centre has so far completed four tranches of e-auction, it said, adding that a total of 10 blocks have been auctioned in the fourth round.
According to the statement, the mines ministry has completed the e-auction of another two mineral blocks under tranche IV.
"This is in addition to the announcement on November 7, 2024, regarding the preferred bidders for eight mineral blocks under tranche IV of e-auction by central government, bringing the total number of successful blocks in Tranche IV to ten," it said.
In the latest auction, Satguru Mining Pvt Ltd won the bid for Ponchi graphite block in Jharkhand, while Assam Mineral Development Corp Ltd emerged as the preferred bidder for Vadakhol-Asoli and associated mineral block in Maharashtra.
Critical minerals, such as cobalt, copper, lithium, nickel and rare earths, play crucial roles in the production of clean energy technologies, ranging from wind turbines to electric vehicles.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
 "The Ministry of Mines has directed the Geological Survey of India (GSI) to conduct a re-exploration of the 5.9 million tonnes of lithium block in Jammu and Kashmir's (J&K's) Reasi district after repeated setbacks to put the reserve up for auction aga")
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 "Ahead of the first offshore mineral auctions, the central government has introduced royalty rates for construction sand, polymetallic nodules, and overburden or waste—key minerals to be extracted through offshore mining. The royalty rate for dolomite")
 "Ministry of Mines set to release list of critical minerals for India")
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