India to auction more critical mineral blocks

India has launched the second part of its critical minerals auction worth an estimated 30 trillion rupees (about US$362 billion), reported Reuters. Eighteen critical mineral blocks will be auctioned in eight states across the country.

The government said 17 of the blocks have been put up for a composite licence, which includes a licence to examine a block and mine it afterwards. One block is for a mining lease.

Union Minister of Parliamentary Affairs, Coal and Mines of India Pralhad Joshi said five states – Maharashtra, Madhya Pradesh, Haryana, Chhattisgarh and Rajasthan – will separately auction mineral blocks for exploration licence.

Joshi added that the first round of the first part of auctions launched in November last year, the government received 56 bids.

The second round of bidding for the first tranche of auctions will be held in mid-March and the bid winner will be announced in mid-April.

Source: Reuters

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