https://www.miningweekly.com
Coal|Energy|Exploration|Manufacturing|Mining|Platinum|Power|SECURITY|Manufacturing
Coal|Energy|Exploration|Manufacturing|Mining|Platinum|Power|SECURITY|Manufacturing
coal|energy|exploration|manufacturing|mining|platinum|power|security|manufacturing-industry-term

India to start critical mineral blocks auction process this year

30th August 2023

By: Bloomberg

  

Font size: - +

India is preparing to start the auction process for some 100 critical mineral blocks in the next four months, as part of plans to secure domestic supplies of the raw materials needed to fuel the green energy transition.

The blocks are for minerals including nickel, lithium, cobalt and platinum, along with rare earths, Mines Secretary Vivek Bharadwaj said in an interview in New Delhi.

“The legal framework has been laid out and the blocks have been identified,” Bharadwaj said. The tender seeking bids is expected to be out by December and auctions may start three months later, he added.

The South Asian nation is racing to ensure critical minerals security to power its ambition to make the country a key battery and electric vehicles manufacturing hub and help attain a net zero goal. India currently doesn’t mine key materials like lithium, cobalt and nickel locally.

In order to incentivize global and local miners to participate in the process, the government is planning to reimburse half the cost of exploration, Bharadwaj said. Companies may take at least three years to bring the mines into operation, he added.

India changed its mining rules last month in a bid to boost exploration of some critical minerals like lithium by allowing private miners to search for the materials. The reforms will be key for auctioning lithium blocks recently identified in Jammu and Kashmir, and Karnataka state.

Some state-run companies have been scouring the globe for such assets while energy heavyweights Coal India Limited and NTPC are mapping out plans to mine the materials. Khanij Bidesh India, a joint venture of three government-run firms, has been created to purchase critical mineral assets overseas, mainly in Australia and South America.

Edited by Bloomberg

Comments

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.106 0.138s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: