The Indian government, led by Union Minister of Coal and Mines, Shri G. Kishan Reddy, and Minister of State for Coal and Mines, Shri Satish Chandra Dubey, is set to kick off the 4th tranche of auctions for critical and strategic mineral blocks on June 24, 2024.
This exciting event will take place at the Scope Convention Centre, CGO Complex, New Delhi.
Critical minerals are vital for industrial growth and economical development, and India is keen to enhance its domestic reserves.
Amendments to the Mines and Minerals Development and Regulation (MMDR) Act in 2023 have opened up new opportunities, allowing the Central Government to grant concessions for 24 crucial minerals, reducing reliance on international sources.
The previous auctions have already seen 38 critical and strategic mineral blocks across 14 States and Union Territories up for grabs.
If you’re a startup looking to make a mark in mineral exploration or processing, this could be your chance!
The event will not only announce the successful bidders from the 1st tranche but will also hand over certificates to 2 Notified Private Exploration Agencies (NPEAs) for their contributions.
Startups and research institutes will also receive sanction letters to support their efforts in developing efficient mineral extraction technologies.
Additionally, a new scheme will be introduced to partially reimburse exploration expenses incurred by license holders, further encouraging domestic exploration.
