India to put 20 blocks of critical minerals on sale by June 

India will put around 20 blocks of critical minerals on sale by the end of June this year in the fourth round of auction, mines secretary VL Kantha Rao said on Monday.

Speaking at the ‘future of critical minerals in India’ at the critical mineral summit held in New Delhi, Rao said that the government initiated the auction of 20 blocks of critical and strategic minerals in November 2023, followed by another tranche of 18 blocks in February 2024.

While emphasizing the importance of exploration of critical minerals in the country Rao said that more such auctions are expected in the future. He said that India’s rapid economic growth and ambition for clean energy are the need of the hour. 

Rao further said that the auction process for seven critical mineral blocks put on sale in the first round is almost complete and the result would be declared in a month.

The ministry of mines, in collaboration with the Shakti Sustainable Energy Foundation (Shakti), Council on Energy, Environment and Water (CEEW), and Indian Institute of Sustainable Development (IISD), is hosting a critical minerals summit titled “Enhancing Beneficiation and Processing Capabilities” between April 29-30 in New Delhi.

On the first day of the summit on Monday, the ministry signed a memorandum of understanding (MoU) to provide knowledge support on areas of critical minerals crucial for economic development, national security, and low carbon energy transition in India.

The agreement was signed between the ministry, Shakti, CEEW), and IISD.

The summit aims to boost India’s beneficiation and processing capabilities in critical minerals vital for the country’s economic growth and its ambitious clean energy targets, which underscore the urgent need for securing a domestic supply of critical raw materials (CRMs) essential for key technologies, including renewable energy systems and electric vehicles.

India in recent years introduced reforms to open the mining sector to private investments, especially in exploration.

Last year, India approved royalty rates of 3% for lithium and niobium and 1% for rare earth elements (REEs).

Amid the enhanced exploration of such minerals, the Geological Survey of India (GSI) in February last year announced the discovery of 5.9 million tons of inferred lithium resources in the Salal-Haimana area of Jammu and Kashmir.

Most of India’s lithium needs are met by imports from Chile, Russia and China, while beryllium is mostly imported from Russia, the Netherlands, and the United Kingdom.