The Union Minister of Coal and Mines, G. Kishan Reddy, and the Minister of State for Coal and Mines, Satish Chandra Dubey, will launch the 4th tranche of the auction of critical and strategic mineral blocks today in New Delhi. The Ministry said that the occasion will also include the handing over of certificates to two notified private exploration agencies. It further said that to increase efficiency in the extraction of mineral resources and in their conversion into viable economic alloys and metals, sanction letters of grant will be handed over to start-ups and research and development institutes. A scheme for partial reimbursement of exploration expenses by exploration license holders is also scheduled to be announced.
The Ministry noted that critical minerals play a pivotal role in both economic development and mineral security in the country. In light of the same, the Mines and Minerals Development and Regulation Act was amended in 2023, and the Central Government was conferred the power to grant mineral concessions for 24 critical and strategic minerals.
Disclaimer: This press release is sourced from News On AIR, Prasar Bharti and Press Information Bureau India (PIB).
