Union Coal and Mines Minister G. Kishan Reddy will launch the 7th tranche of the auction of critical and strategic mineral blocks tomorrow. This tranche will offer 19 blocks across several states under mining lease and composite license. These blocks include a diverse range of minerals essential for sectors such as clean energy, advanced technologies, fertilizers, and strategic industries.
The Ministry of Mines stated that the auction will be conducted online through a transparent two-stage ascending forward auction process, where the successful bidder will be selected based on the highest percentage of the value of minerals dispatched. The Ministry has already launched six tranches of auctions, with 46 critical and strategic mineral blocks already auctioned.