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Context: The first round of auction for critical and strategic minerals, featuring 20 blocks, will be initiated by the government on November 29, 2023.
Auction of Critical and Strategic Minerals
What are critical minerals?
Critical minerals are those minerals that are at risk of supply shortage, which may have a larger impact on the economy compared to that of other raw materials. |
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Why is there a need for the auction of critical and strategic minerals?
Recent Initative:
Rationalization of Rroyalty rates of Critical Minerals:
Also read: Global Action on Critical Minerals Outreach Programme
Further Reading: Critical Mineral Supplies Vital To Clean Energy Shift, Amendments to the Mines and Minerals (Development And Regulation) Act
News Source: Business Standard
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