NEW DELHI: The government on Wednesday launched the first round of auctions for critical and strategic minerals, including the recently discovered lithium in Jammu. In this initial phase, nearly 20 blocks in Odisha, Tamil Nadu, Jammu & Kashmir, Chhattisgarh, Bihar, Jharkhand, Uttar Pradesh, and Gujarat will be put up for auction.
Out of the blocks, 16 are designated for the grant of a composite licence, and 4 are allocated for the grant of a mining lease. The minerals on auction include lithium and REE, nickel and copper, nickel and chromium, phosphorite, potash, galuconite, graphite, manganese, and molybdenum.
“With today’s launch, 20 blocks of critical and strategic minerals will be auctioned across the country. It is a historic moment with the country taking a leap in the domain of sustainable mining and promotion of clean energy technologies,” said the coal and mining minister Parhald Joshi.
Mining ministry has identified 100 blocks thus far, with 20 of them currently placed for auction. As per the minister, total value of minerals in these blocks is estimated to be Rs 45,000 crore. Following the completion of the auction process for these blocks, the remaining ones will be made available for auction after February 2024.
The government believes this move will not only make India self-reliant in minerals but also significantly reduce the country’s import bill, which currently amounts to Rs 24,000 crore for importing lithium alone. This would be significant in the case of minerals like lithium, graphite, cobalt, and thallium, which are essential components in various products, including electric vehicles, semiconductors, and solar panels.
The sale of tender documents commenced on November 29, 2023. A pre-bid conference with prospective bidders is scheduled for December 22, 2023. The last date for the sale of tender documents is January 16, 2024, and the deadline for bid submission is January 22, 2024.