New Delhi: The Centre on Wednesday formally launched the eighth tranche of auctions for critical and strategic mineral blocks at the curtain raiser event of India Mining Week, with Minister of State for Coal and Mines Satish Chandra Dubey asserting that the mining sector has emerged as a cornerstone of India's journey towards self-reliance and industrial growth.
Addressing the event, Dubey said mining was no longer merely an activity of extracting natural resources but a strategic sector supporting India's ambitions in energy security, manufacturing, electric mobility and semiconductor production.
Follow The PSUWatch Channel on WhatsApp
Crediting the Narendra Modi government for transforming the sector through reforms to the Mines and Minerals (Development and Regulation) Act, the minister said the pace of mineral block auctions and operationalisation had accelerated significantly. According to him, more than 100 auctioned mineral blocks are already operational, with work beginning on 36 of them during the current year.
Dubey said the introduction of commercial mining, greater private sector participation and digital governance had improved transparency and efficiency in the sector.
Highlighting the government's focus on critical minerals, he said 56 critical mineral blocks have been successfully auctioned so far under the National Critical Minerals Mission. He added that Khanij Bidesh India Ltd. (KABIL) is acquiring mineral assets overseas to strengthen India's supply chain, with cooperation expanding through agreements with Australia and partnerships with countries such as Chile and Argentina.
The minister also said India's coal production has exceeded one billion tonnes for two consecutive years, describing it as a major achievement. He added that the government is now promoting technologies such as coal gasification to ensure cleaner and more efficient utilisation of domestic coal resources.
Dubey said the District Mineral Foundation has ensured that mining revenues are channelled towards healthcare, education, drinking water and other basic infrastructure in mining-affected districts.
Follow PSU Watch on LinkedIN
Announcing the launch of the eighth tranche of critical and strategic mineral block auctions, the minister urged mining companies to participate actively. He also invited global investors and stakeholders to attend India Mining Week, which will be held at Yashobhoomi, Dwarka, New Delhi, from November 15 to 17, saying the event would showcase investment opportunities, technological innovation and international partnerships in India's mining sector.
(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)