 "critical minerals")
The Centre will launch the first round of auction of critical and strategic minerals on November 29, putting 20 blocks under the hammer, it said in a statement on Tuesday.
Twenty blocks of critical and strategic minerals being put on sale are spread across the country, an official statement said, adding that critical minerals are important for the country's economic development and national security.
"This is a landmark initiative that will boost our economy, enhance national security and support our transition to a clean energy future," the mines ministry said in a statement on Tuesday.
Critical and strategic minerals are in high demand, and the need is usually met by imports. Critical minerals cater to the needs of sectors like renewable energy, defence, agriculture, pharmaceutical, high-tech electronics, telecommunications, transport, and the creation of gigafactories.
Earlier, the mines ministry said it was in the process of preparing a policy for critical minerals, which will include a road map for strengthening the supply chain of these essential resources.
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The mines ministry said in a statement, "The strategy will also identify the responsibilities of different ministries of the the Government of India in ensuring the resilience of the supply chain of critical minerals. "
The ministry is also preparing a strategy for recycling metals, which will help to increase the recycling capability and streamline the recycling process. It will also work with partner countries to co-develop mineral processing and raw material manufacturing capabilities.
In addition to strengthening domestic mechanisms, collaborative international efforts through multilateral and bilateral engagements have been made to build a resilient critical minerals value chain.
The Ministry of Mines is actively engaging in new partnerships and alliances like the Minerals Security Partnership (MSP) and the Australia-India Economic Cooperation and Trade Agreement.
