New Delhi: The Government has set up a panel that would recommend legislative measures to facilitate economically viable recovery of critical minerals which are found in small quantities.
Critical mineral blocks like lithium are crucial for manufacturing of electric vehicles.
The seven-member panel under the chairmanship of NITI Aayog member V K Saraswat will suggest legislative measures to ensure optimal and scientific mining of deep-seated mineral deposits such as copper, gold, and diamond among others, which are formed in the form of veins and can generally be extracted through underground mining only, according to an official memorandum issued by the mines ministry.
The committee will also formulate a strategy to popularise the impact of mining reforms among states, as per the memorandum.
Critical mineral blocks like lithium are crucial for manufacturing of electric vehicles. Last year, the Geological Survey of India (GSI) established 5.9 million tonne of inferred resources of lithium in the Salal-Haimana area of Jammu & Kashmir.
The government has cancelled the auction for 13 of the 20 blocks put on sale in the first tranche of critical minerals as the response was lukewarm.
Of the 20 blocks put on offer, 56 physical bids and 56 online bids were received for 18 blocks. Of the 11 cancelled blocks, seven mines have been notified for auction under the third round. The second round of auction of six blocks have been completed as per schedule.
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