Question

Govt To Launch First-Ever Auction Of Critical Mineral Blocks Today.

Answer 1

The Ministry of Mines has announced the initiation of the first tranche auction of critical and strategic minerals scheduled for today. The highly anticipated event will be inaugurated by Union Minister of Coal, Mines, Pralhad Joshi.

This initiative will play a pivotal role in boosting the country’s economy, enhancing national security, and supporting the transition to a clean energy future. The auction involves twenty blocks of critical and strategic minerals strategically located across the nation.

India has committed to achieving 50% of cumulative electric power installed capacity from non-fossil sources by 2030. This ambitious plan for energy transition is expected to drive demand for electric cars, wind and solar energy projects, and battery storage systems, consequently increasing the demand for critical minerals.