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					</table><p>The <a href="https://mines.gov.in/webportal/home" target="_blank" rel="noopener">Ministry of Mines</a> will auction 20 blocks of critical minerals, including lithium and graphite, within the next two weeks, Mines Secretary V K Kantha Rao has said.</p>
<p>The planned auction <a href="https://www.mercomindia.com/union-cabinet-approves-royalty-critical-minerals" target="_blank" rel="noopener">follows</a> the amendment to the Mines and Minerals (Development and Regulation) Act, 1957, setting reduced royalty rates for three critical and strategic minerals – lithium, niobium, and rare earth elements – used in the energy transition technologies.</p>
<p>The loyalty rates were reduced in October from a default rate of 12% of average selling (ASP) to 3% of the London Metal Exchange price for lithium, 3% of ASP for niobium, and 1% of ASP for rare earth oxide.</p>
<p>Emphasizing the importance of indigenous technology in mining and processing critical minerals, Rao highlighted the ministry&#8217;s commitment to exploring home-grown solutions for critical minerals.</p>
<p>Union Minister of Coal and Mines Pralhad Joshi said minerals serve as raw materials for many industries but are also crucial to the energy transition to a low carbon-emission economy.</p>
<p>The government has taken several steps to reform the mining and minerals sector and encourage private players to participate in mining auctions.</p>
<p>In June, India <a href="https://www.mercomindia.com/india-unveils-critical-clean-energy-and-cut-imports" target="_blank" rel="noopener">unveiled</a> its first-ever report on “Critical Minerals for India,” identifying a list of 30 critical minerals, comprising lithium, cobalt, nickel, graphite, cadmium, silicon, indium, and tellurium used in renewables.</p>
<p>Critical minerals are integral to contemporary industries, encompassing electronics, defense, and renewable energy.</p>
<p>In September, the government <a href="https://www.mercomindia.com/government-cost-for-critical-mineral-exploration" target="_blank" rel="noopener">announced</a> a 25% incentive on the approved project cost for exploration agencies in a bid to enhance the exploration of critical minerals. The decision aims to expedite the discovery and extraction of critical minerals, reduce the country’s dependence on imports, and foster self-sufficiency in these vital resources.</p>
<p>Early this year, the government announced the <a href="https://www.mercomindia.com/india-lithium-reserves-in-jammu-kashmir" target="_blank" rel="noopener">discovery</a> of 5.9 million tons of lithium reserves for the first time in the country in the Reasi district of Jammu &amp; Kashmir.</p>


Mines Ministry to Auction 20 Critical Mineral Reserves in Upcoming Fortnight

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