India Auctions 46 Critical Mineral Blocks, Launches 7th Round for 19 More

He highlighted that in the current era of shifting geopolitics, climate change, and economic concerns, critical minerals have moved to the center of global strategy.

"There was a time when nations were defined by the land they controlled. Today, they are increasingly defined by the minerals they can secure," the Minister said.

Reddy noted that the rise of these minerals is fundamental to every nation's vision of the future and will play a defining role in the journey toward a Viksit Bharat by 2047. He emphasized that the event was not a routine conference but a reminder to stakeholders of their role in a larger national mission. He stated that the government has completely scrapped import duties on 24 critical minerals to support the industry and that two vanadium and titanium blocks in Telangana are now ready for auction.

"Today, the Prime Minister has repeatedly told us that reforms for the benefit of the country, for the development of the country, whatever, 100% reforms should be brought and the employment in the country should be increased, the country should move towards self-reliance," Reddy stated.

The Minister detailed the progress made in the last decade, noting that production started in 93 blocks during this period, with 58 blocks becoming operational just last year.

"The government does not work for revenue in this mineral sector. The government takes a big step to make India a self-reliant country in this mineral sector," he added.

Beyond domestic efforts, the central government is looking toward international partnerships for mineral exploration in countries like Australia and Argentina. Reddy urged the private sector to participate in both domestic and overseas opportunities.

He also highlighted the potential of urban mining, which involves extracting minerals from scrap, noting it requires fewer clearances and less expenditure compared to traditional mining.

"In the coming days, there is a very big scope to extract critical minerals in urban mining. Land acquisition, auction, the need for clearances is also less. For this, we will not necessarily have to give geological resources," the Minister remarked.

The government's approach remains focused on transparency and the principle of "reform, perform, and transform." Reddy called for cooperation between the state governments, public sector undertakings, and private partners to reduce import dependency and foster rural development through increased mineral activity.

- ANI