India Awards First Lithium and REE Blocks to Private Miner

26 Jun 2024 CW Team

India has been heavily dependent on imports to meet its critical mineral needs, such as lithium, niobium, and REEs, which are essential for industries like electric vehicles, pharmaceuticals, and defense manufacturing. The move to domestically source these minerals marks a significant shift towards resource self-sufficiency.

The discovery of India's first lithium deposits in Jammu and Kashmir, with estimated reserves of 5.9 million tonnes, was announced in February last year. Following this, in July 2023, India revised its mining regulations to allow private miners to explore and extract these vital resources.

At the event, Minister Reddy highlighted the positive impacts of the 2015 mining and mineral sector reforms and assured continued reforms every 15 days to further enhance the sector.

The fourth tranche e-auction of critical minerals includes 21 blocks, with 11 new blocks in states such as Arunachal Pradesh, Jharkhand, and Karnataka. Despite the initial round receiving 56 physical and 56 online bids for 18 of the 20 blocks offered in November 2023, the auction for 13 blocks was canceled due to limited interest, prompting the re-auction of seven of these blocks in the third round.

India's strategic move to auction critical mineral blocks is part of its broader initiative to facilitate a clean energy transition. The government recently canceled 14 out of 18 blocks in the second tranche due to insufficient bids and is set to auction its first tranche of 10 offshore critical mineral blocks within the next 100 days.

In a groundbreaking development, Union Minister G Kishan Reddy awarded India's first lithium block, Katghora, and a Rare Earth Element (REE) block in Chhattisgarh to Maiki South Mining Private Limited. This allocation, with a Final Price Offer (FPO) of 76.05%, occurred during the fourth tranche of the critical minerals auction. India has been heavily dependent on imports to meet its critical mineral needs, such as lithium, niobium, and REEs, which are essential for industries like electric vehicles, pharmaceuticals, and defense manufacturing. The move to domestically source these minerals marks a significant shift towards resource self-sufficiency. The discovery of India's first lithium deposits in Jammu and Kashmir, with estimated reserves of 5.9 million tonnes, was announced in February last year. Following this, in July 2023, India revised its mining regulations to allow private miners to explore and extract these vital resources. At the event, Minister Reddy highlighted the positive impacts of the 2015 mining and mineral sector reforms and assured continued reforms every 15 days to further enhance the sector. The fourth tranche e-auction of critical minerals includes 21 blocks, with 11 new blocks in states such as Arunachal Pradesh, Jharkhand, and Karnataka. Despite the initial round receiving 56 physical and 56 online bids for 18 of the 20 blocks offered in November 2023, the auction for 13 blocks was canceled due to limited interest, prompting the re-auction of seven of these blocks in the third round. India's strategic move to auction critical mineral blocks is part of its broader initiative to facilitate a clean energy transition. The government recently canceled 14 out of 18 blocks in the second tranche due to insufficient bids and is set to auction its first tranche of 10 offshore critical mineral blocks within the next 100 days.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..