Maiki South Mining Wins First Lithium Block in Chhattisgarh Amid Major Auction Reforms

Maiki South Mining Pvt Ltd secured the first lithium block in Chhattisgarh during an auction. Additionally, the Indian government canceled the auction of 14 critical minerals due to insufficient bids. This occurred during the announcement of the fourth round of strategic and critical mineral auctions, highlighting ongoing reforms in the mining sector.

Maiki South Mining Pvt Ltd has successfully secured the country's first lithium block in Chhattisgarh, according to a government announcement on Monday. The company won the Katghora lithium and rare earth elements (REE) block with an auction premium of 76.05 percent.

At the same event, Union Minister of Coal and Mines G Kishan Reddy launched the fourth round of auction for critical and strategic minerals, featuring 21 new blocks, including 11 fresh blocks across states like Arunachal Pradesh and Karnataka. The minister noted that reforms initiated in 2015 are now bearing fruit in the mining sector.

Despite the successes, the government canceled the auction of 14 critical mineral blocks due to insufficient bids. Mines Secretary V L Kantha Rao assured that production from critical minerals would commence promptly, adding that further reforms and additional auction rounds are forthcoming to stimulate the sector.

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