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As on : 24-Feb-2025

Economy - Reports
24-Feb-2025 12:25

Government aims to auction as many critical mineral blocks as possible by 2031

Union Minister of State for Mines and Coal, Satish Chandra Dubey has outlined the government's strategic approach to reducing import dependency for critical minerals. The announcement follows the recent launch of the National Critical Minerals Mission, which has allocated Rs 34,300 crore over seven years to strengthen India's position in the critical minerals sector. He noted that the government has already auctioned 24 critical mineral blocks domestically, and we aim to auction as many critical mineral blocks as possible by 2031, the minister said. The initiative forms part of a broader strategy to enhance India's mineral security and reduce vulnerability to international supply chain disruptions. The minister emphasised the role of public-private partnerships in achieving these objectives. The announcement comes amid growing concerns about critical mineral supply chains, particularly for materials essential to electric vehicles, electronics manufacturing, and renewable energy systems.

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