India is planning to invite bids for 20 critical mineral blocks in two weeks, including lithium and graphite, according to a government official. This is part of the country’s efforts to secure its supply of critical minerals, which are essential for the manufacturing of electric vehicles and other clean energy technologies.
The government official said that the auction will be conducted by the National Mineral Development Corporation (NMDC) and will include blocks in states such as Andhra Pradesh, Chhattisgarh, Jharkhand, and Rajasthan. The blocks contain a variety of critical minerals, including lithium, graphite, cobalt, nickel, and rare earth elements.
The auction is expected to attract interest from both domestic and foreign companies. India is currently the world’s third-largest consumer of lithium and graphite, and its demand for these minerals is expected to grow significantly in the coming years.
The government of India has been taking a number of steps to secure its supply of critical minerals. In addition to the auction, the government has also established a National Critical Minerals Mission and has launched a number of initiatives to promote the exploration and mining of critical minerals in the country.
The increasing demand for critical minerals is being driven by the transition to clean energy. Critical minerals are essential for the manufacturing of electric vehicles, solar panels, and other clean energy technologies. As the world transitions to a clean energy economy, the demand for critical minerals is expected to grow significantly.
India’s decision to invite bids for 20 critical mineral blocks is a positive step. It will help to secure the country’s supply of critical minerals and support its transition to a clean energy economy.
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