India to maximise auctions of critical minerals by 2031: MoS Satish Chandra Dubey

India plans to auction as many blocks of critical minerals as possible by 2031, ramping up efforts to secure its domestic supply of critical minerals in line with the country’s push to strengthen its green energy and technology sectors while reducing import dependency.

“The government has already auctioned 24 critical mineral blocks domestically, and we aim to auction as many critical mineral blocks as possible by 2031,” said Union Minister of State for Mines and Coal, Satish Chandra Dubey at the Critical Minerals Matrix conference hosted by FICCI in New Delhi on Friday.

Highlighting the government’s strategic vision, he said that more will follow under the recently launched National Critical Minerals Mission (NCMM). The mission, with a budget of ₹34,300 crore over seven years, aims to enhance India’s mineral security and ensure resilience against global supply chain disruptions.

Critical minerals such as cobalt, copper, lithium, nickel, and rare earth elements are essential for clean energy technologies, including wind turbines and electric vehicles. To accelerate domestic mineral exploration and reduce vulnerability to international supply chain disruptions, Dubey called for stronger public-private partnerships, urging private sector participation in mining and extraction. “We must work as complementary partners and as a team to build a self-reliant India,” he said.

In January 2025, the Union Cabinet, led by Prime Minister Narendra Modi, approved the NCMM with an expenditure of ₹16,300 crore and an additional ₹18,000 crore expected from PSUs. The mission encourages Indian companies to acquire critical mineral assets abroad, develop domestic stockpiles, and strengthen trade ties with resource-rich nations.

As part of the Atmanirbhar Bharat initiative, the government has introduced several measures to address challenges in the critical minerals sector. The Union Budget 2024-25, presented on July 23, formally announced the Critical Mineral Mission, reinforcing India’s commitment to building a self-reliant mineral ecosystem.