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The government launched the first tranche auction of critical and strategic minerals

Published on November 29, 2023
Current Context: The Indian government has indeed launched the first-ever auction process for critical minerals on 29th November 2023.
The government launched the first tranche auction of critical and strategic minerals
  • This initiative is aimed at boosting the economy and paving the way towards clean energy. The first tranche of the auction is worth Rs. 45,000 crore.
  • The auction includes twenty blocks of critical and strategic minerals spread across the country.
  • The Ministry of Mines launched the first tranche auction of these minerals.
  • The Union Cabinet, chaired by Prime Minister Narendra Modi, had previously approved an amendment to the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act) for specifying royalty rates for three critical and strategic minerals: Lithium, Niobium, and Rare Earth Elements (REEs).

Question:

Q.1 When was the first tranche auction of critical and strategic minerals launched by the Indian government?
a. November 28, 2023
b. November 29, 2023
c. November 30, 2023
d. December 1, 2023

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