Union Coal and Mines Minister, G. Kishan Reddy, will launch the 7th Tranche of Auction of Critical and Strategic Mineral Blocks today.

The 7th Tranche will offer 19 blocks across several States under Mining Lease and Composite Licence. These blocks comprise a diverse basket of minerals essential for sectors such as clean energy, advanced technologies, fertilisers, and strategic industries.

The Ministry of Mines said that the auction will be conducted online through a transparent two-stage ascending forward auction process, wherein the successful bidder will be selected based on the highest percentage of value of mineral dispatched that is quoted.

It noted that as of now, the Ministry has launched six tranches of auctions, with 46 critical and strategic mineral blocks already auctioned.