India launches ₹45000 cr auction for strategic minerals exploration
The Indian government initiates the first tranche of auctions, valued at around ₹45000 crore, for 20 mineral blocks, including lithium, rare earth elements, nickel, copper, and more. The online auction, led by the Ministry of Mines, aims to harness critical and strategic minerals for national development. The blocks, spread across eight states, will be auctioned through a two-stage process until February 2024, attracting global interest, particularly from Korean and Japanese mining companies eyeing India's lithium reserves.
