Team Blitz India
NEW DELHI: The Centre is set to auction 20 blocks of critical minerals, including lithium and graphite, within the next two weeks, as part of a broader effort to harness indigenous technology for mining and processing, VL Kantha Rao, secretary, ministry of mines, said.
Recently, the Government identified a slew of critical minerals including new age minerals like lithium, cobalt, and titanium, important to meet the modern-day needs of sectors like electronics, telecom, transport, and defence.
Last month, the Centre had approved royalty rates of 3% each for lithium and niobium and 1% for Rare Earth Elements (REEs).
In a virtual address, Union minister of coal and mines, Pralhad Joshi said, “Minerals are integral part of our daily life and mineral serve as raw material for many industries but are also crucial and vital to energy transition to a low carbon-emission economy, and renewable energy technologies that will be required to meet the net zero commitment as declared by our Prime Minister.”
To create awareness among the public about the path breaking reforms underway in the mining and mineral sector, the ministry is showcasing a state-of-the-art minning pavilion at Pragati Maidan