Context:
The Ministry of Mines has successfully auctioned 56 critical and strategic mineral blocks and 11 Exploration Licence blocks. These auctions support the National Critical Mineral Mission by expanding domestic exploration, attracting private investment and reducing India’s dependence on mineral imports.
Explanation:
- The National Critical Mineral Mission (NCMM) seeks to secure minerals essential for economic development, clean energy and national security.
- Critical minerals have high economic importance but face risks of supply disruption, import dependence or geographical concentration.
- India has identified 30 critical minerals, including lithium, cobalt, graphite, nickel, rare earth elements, vanadium and titanium.
- They are used in electric vehicles, batteries, renewable energy, electronics, semiconductors, defence, telecommunications and advanced manufacturing.
- The mission promotes domestic exploration, mining, processing, recycling, overseas mineral acquisition and strategic stockpiling.
- Mineral blocks are auctioned under the Mines and Minerals (Development and Regulation) Act, 1957 and the Mineral (Auction) Rules, 2015.
- An Exploration Licence permits systematic exploration of critical and deep-seated minerals by public or private entities.
- The mission aims to strengthen mineral supply chains, promote private participation and support India’s energy transition and strategic autonomy.
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