Critical mineral e-auctions aim to fulfil PM's Aatmanirbhar Bharat vision: Union Minister Pralhad Joshi

Union Minister of Parliamentary Affairs, Coal and Mines Pralhad Joshi said on Thursday that the rollout of e-auctions of critical and strategic mineral e-auctions of critical and strategic minerals aims to meet the country’s sustainable development goals for the coming decades and to fulfil Prime Minister Narendra Modi’s ‘Aatmanirbhar Bharat’ (self-reliant India) vision. His remarks came as the Centre launched the second tranche of the auctions after the first received more than 50 bids, reflecting strong interest and confidence in the auction process.

The first tranche of the auctions, involving 20 blocks, was launched by the Union Minister in November.

Attended the launch of the Second Tranche of Auction of Critical and Strategic Mineral Blocks today - a significant step in contributing to Advancing #AatmanirbharBharat and reducing imports. Grateful for the opportunity to support mining start-ups and unveil the Annual Capacity… pic.twitter.com/RdxOIb2boW

— Pralhad Joshi (@JoshiPralhad) February 29, 2024

The robust response to the auctions reaffirms the Centre’s commitment to fostering transparency, competition, and sustainable growth in the mining sector, according to an official statement. 

These blocks, located in Bihar, Chattisgarh, Gujarat, Jharkhand, Odisha, Tamilnadu, Uttar Pradesh, and Jammu and Kashmir, are rich in minerals including glauconite, nickel, potash, graphite, phosphorite and lithium. The bidders, catering to areas such as mining, EV-related manufacturing, cement and energy, included Coal India, Vedanta, NLC  India, Shree Cement, Orient Cements, Ola Electric, and Dalmia Group.

The Union Minister also launched the Coal Logistics Plan and Policy, describing the development as a significant milestone in the country’s journey towards modernising coal transportation, enhancing efficiency, and promoting sustainability. 

The Coal Logistics Plan proposes a strategic shift towards a railway-based system in first mile connectivity (FMC) projects, aiming for a 14 per cent reduction in rail logistic costs at annual cost savings to the tune of Rs 21,000 crore.