India To Open Bids For 20 Critical Mineral Blocks In Two Weeks
India will invite bids for 20 critical mineral blocks in the next fortnight, including for lithium and graphite, Mines Secretary VL Kantha Rao told Reuters on Tuesday.
The move is consistent with the government's strategy to secure minerals critical to advanced technology sectors and it comes on the heels of significant reforms aimed at increasing private sector participation in mineral exploration.
Recently, the government identified a slew of critical minerals, including new-age minerals such as lithium, cobalt, and titanium, that are critical to meeting the modern-day needs of industries such as electronics, telecommunications, transportation and defence.
The Centre approved royalty rates of 3 per cent for lithium and niobium and 1 per cent for Rare Earth Elements (REEs) last month.
